2025 is the year I plan on reading Volumes 1-3 of Capital. I understand that Marxists.org has the Moore/Engels version, but most people seem to prefer the Fowkes translation in Penguin. Recently, there is the Reitter translation of Volume 1 that supposedly uses a later original German edition of Capital as the base than the widely beloved Fowkes translation, but I am not sure if anyone has any experience with it yet.
Which would you recommend for someone diving into Capital for the first time? I'd prefer a physical version (to take notes) but I am not too fussed if its an ebook, I'm not incapable of using a notebook or anything instead of direct annotation.
Honestly choose whatever translation accessible to you to buy and read over
I just chose Marxist.org because it's accessible to me, to take notes online on docs
All 3 are accessible to me (especially if I sail the seven seas), I was just wondering what people here tend to prefer as I believe the general user here knows a good deal more than I do.
Well, you ought to @ @CriticalResist8@lemmygrad.ml or someone higher like him, such as @yogthos@lemmygrad.ml , since I'm too philistine enough to know difference between the 3 translations
Btw: why is it usually that Chapos answer here, when a Chapo questions here, lmao
Figured it would be rude to directly @ people, but I welcome their input if they choose to engage!
As for the Chapo question, my best guess is that the activity of Hexbear is generally much higher, but your guess is as good as mine lol
I honestly wouldn't worry too much which version you read. I read the first volume of Moore/Engels version and it was fine. I did find that it was a pretty tough read, particularly the first half. Marx spends a lot of time establishing the base of his argument, and explaining what the fundamentals of an economy are, what money represents, and so on. It's all necessary stuff, but I did find it to be a bit of a slog. The second part of the book is much more engaging though, and you can really see how he nails a lot of the invariants of capitalism because it's so relatable today. My biggest advice would be to be prepared to just take it slow, and make sure you've really digested each chapter before moving to the next one.
Thanks, appreciate the advice! If Hexbear does another reading group for 2025 I will probably take that opportunity to hold myself accountable with respect to keeping up with it, while pacing myself.
I've heard that the first 3 chapters are especially dense, but once I digest those fully the rest should come more naturally.
Yeah that tracks from my recollection. I do find the style Marx uses can be somewhat painful to follow because he'll keep building up the argument to the point where you start losing track of the whole point being made, and you have to go back and reread earlier parts of the argument. He doesn't bother breaking it up it small chunks you can digest individually.
Yea, Marx's thoroughness and repitition certainly comes through in even his shorter texts, I imagine Capital makes this far more pronounced.
Volume 2, on circulation? Honestly, that was the book I didn't understand. What did you take away from that?
Oh no, I just meant the second part of the first volume. Regarding circulation, my understanding was that capitalism requires a continuous, uninterrupted circulation process to realize surplus value in order to reproduce itself. However, this process contains inherent contradictions making it prone to crises due to the varying time it takes for capital to flow through its different phases of production, circulation, and consumption.
Marx argues that surplus value, created in production, can only be realized through circulation. Capitalists must sell the commodities they produce to get back their initial investment and to make profit. The money must then reinvested to restart the cycle, allowing the system to reproduce itself.
Since there is time and cost involved in commodities being transported, stored, and marketed, capital ends up being tied up and can't generate new value during that period. Effectively, these costs reduce the overall surplus value that's realized. Different forms of capital have different turnover times. Fixed capital such as machinery or buildings is invested for long periods, while circulating capital like raw materials and labor power turns over quickly. The disparity creates unevenness in the accumulation process.
Discrepancies between production and consumption, changes in demand, difficulties in selling, and variations in turnover times can disrupt the flow of capital introducing instabilities. These disruptions can lead to overproduction or devaluation of capital that culminate in recurring economic crises.
Capitalism seeks to overcome these problems either through optimization of supply chains or use of credit and financial systems to help accelerate the flow of capital. However, these solutions can also exacerbate the system's inherent contradictions.
The core argument, if I understand it correctly, is that smooth circulation of capital is necessary for the survival of the capitalist system. Yet, circulation itself a source of instability and crises, as the pursuit of profit constantly pushes against the limitations of time and the unpredictability of the market.
I haven't read Capital in English unfortunately