Abstract
In describing the objective of Part 5 of Capital, Vol. III, Marx states that he is considering the credit system only to the extent ‘necessary to characterize the capitalist mode of production in general’ (1894: 525). As this indicates, the credit system is, in Marx’s view, so essential that no presentation of capital would be complete without it. It points also to a distinctive feature of Marx’s account, namely, that he derives the credit system from capital, which he initially presents as industrial capital by itself. That is, he appeals to the requirements and inherent tendencies of industrial capital to explain why the credit system evolves.1
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© 2002 Martha Campbell
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Campbell, M. (2002). The Credit System. In: Campbell, M., Reuten, G. (eds) The Culmination of Capital. Palgrave Macmillan, London. https://doi.org/10.1057/9780230597099_9
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DOI: https://doi.org/10.1057/9780230597099_9
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