Realist Methodology and the Articulation of Modes of Production (ص 122)

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Realist Methodology and the Articulation of Modes of Production (ص 122)

المحتوى

heterogeneous organisational forms which do not concern us
here.
The circuit of commercial capital is predicated on the logic
of purchasing commodities in order to sell them at a price
which is substantially greater than the purchasing price.
The logic entailed in this circuit can be formally
represented in the following form:
M-—- C — M'
where M is equal to the sum of money initially outlaid for
commodity (C) and M' is equal to the final income from the
sale of C. The logic of commercial capital involves’ two
transactions and one commodity. In this process’ the
commodity undergoes no transformation of its elemental form.
The merchant does nothing to the commodity ina productive
sense except to bring it to the market place. The
relationship of the merchant to the purchaser is not an
exploitative relationship but one of unequal exchange. (94)
The relationship of the merchant to the producer from whom
s/he initially purchases the commodity is also one of unegual
exchange through buying the commodity at less than market
price. Both these transactions take place in the sphere of
market relations and they are charged with the function of
consumption.
The circuit of commercial capital has mediated the relation
between production and consumption in many historically
distinct institutional forms: from the itinerant merchants
who traversed Europe and the Orient through the Middle Ages -
108 vt :

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Realist Methodology and the Articulation of Modes of Production

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المنشئ

Alex Pollock

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