A Comparative Study Of Capital Theory In Das Kapital And The Wealth Of Nations

This paper compares the capital theory in Das Kapital,a classic work of Marxist political economy,with the capital theory in The Wealth of Nations,a classic work of western economics.Through the comparison of the similarities and differences between the two capital theories,the definition of capital,the function of capital,the reward of capital,the distribution of the reward of capital,the division of capital,the movement of capital,the source of capital and the accumulation of capital are discussed.This paper explains the inheritance,criticism and transcendence of the capital theory in Das Kapital to the capital theory in The Wealth of Nations.This paper argues that The Wealth of Nations and Das Kapital share the same attitude in many aspects of capital theory.Both of them believe that capital has the essential function of bringing rewards to capitalists.Capital is therefore an essential element in the creation of wealth.In addition,the creation of capital remuneration is completed in the production process of hired laborers,and capital remuneration is essentially the surplus value created by laborers.Both hold that capital is not a single form and can be distinguished by different forms of capital.Capital is moving rather than static,and the movement of capital is a circular movement whose starting point is the end point.Both views on the source of capital are based on the labor theory of value,so they believe that capital is essentially the product of past labor,the continuous accumulation of this product led to the expansion of the scale of capital.This paper holds that there are both consensus and disagreement between The Wealth of Nations and Das Kapital in capital theory.The inconsistency of capital theory between Das Kapital and The Wealth of Nations is the basis for Das Kapital to establish its own capital theory.The Wealth of Nations believes that capital is the wealth used for production in the disposable wealth of the owner of capital,that is,the use value.Capital can realize the social benefit indirectly while realizing the personal benefit of the capital owner.Das Kapital argues that capital is the value of the capitalist class for the free possession of others’ productive value,so capital can only realize the interests of the bourgeoisie.The Wealth of Nations believes that the return of capital comes from the circulation field,and the different realities in the circulation field will lead to the unequal distribution of the return of capital among capitalists.On the other hand,Das Kapital believes that the return of capital comes from the multiplication value created by laborers in the process of production.Since profits in the capitalist mode of production have the characteristics of equalization,each capitalist obtains the same amount of profits according to the same amount of capital.The Wealth of Nations believes that capital is the use value,so it divides the different forms of capital with use value as the core,and holds that the movement of capital is the movement of use value.Das Kapital holds that capital is value,so it classifies different forms of capital with value as the core,and holds that the movement of capital is the movement of value.The Wealth of Nations holds that the increase or accumulation of capital comes from the personal frugality of the owners of capital,and the capital accumulation caused by such frugality will promote the increase of social wealth.Das Kapital believes that the essence of capital accumulation is the capitalization of surplus value,and surplus value comes from the exploitation of labor by capital,so capital accumulation is the result of the exploitation of labor by capital.Moreover,capital accumulation makes the capitalist use the free possession of the fruits of others’ labor to expand the possession of the fruits of others’ labor,thus leading to the polarization of wealth.By comparing the consensus of capital theory between The Wealth of Nations and Das Kapital,this paper makes an in-depth analysis of the inheritance of capital theory from Das Kapital to The Wealth of Nations.This paper holds that Das Kapital inherited the analytical tool of The Wealth of Nations,and both Das Kapital and The Wealth of Nations adopted the labor theory of value as the analytical tool when studying the essential source of capital.This paper holds that Das Kapital inherited the view of the self-interested motive in The Wealth of Nations.Both of them see that capital pursues profit,and capital will automatically go to the field of high profit so as to expand and multiply itself.This paper holds that Das Kapital inherited the positive attitude of The Wealth of Nations that capital promotes the development of productive forces.Das Kapital pointed out that the promotion of capital to productive forces exceeds all previous modes of production,so Das Kapital believed that capital has the function of civilization.This paper holds that Das Kapital inherited the view that capital is the production condition of capitalism in The Wealth of Nations.They hold that the conditions of production in capitalism include the means of production used by laborers and the means of living necessary for their survival,and capital also includes the means of production and the means of living.Thus it can be seen that Das Kapital inherited the view that capital is the production condition of capitalism in The Wealth of Nations.By comparing the differences between the capital theories in The Wealth of Nations and Das Kapital,this paper illustrates Das Kapital’s criticism of the capital theories in The Wealth of Nations.This paper holds that The Wealth of Nations stands on the bourgeois standpoint and only sees the positive and promoting effect of capital on the development of productive forces,but neglects the fact that the development of productive forces is based on the exploitation of labor by capital.Moreover,The Wealth of Nations regards the promotion of capital to productivity as absolute,but fails to realize that with the development of productivity,the goal of capitalist production and objective laws will inevitably lead to the negative hindrance of capital to the development of productivity.This paper argues that Das Kapital criticizes The Wealth of Nations to regard the ownership and possession of production conditions by capital as legitimate and reasonable.The reason why The Wealth of Nations has such a point of view is that it stands on the bourgeois standpoint and does not see the exploitation of laborers by capital in the aspects of labor purpose,labor process and labor result.In addition,the second volume of Das Kapital clearly puts forward the criticism of the theory of capital division in The Wealth of Nations and the criticism of the view that the return to capital is the factor determining value.Through the analysis of the consensus and divergence of capital theory in The Wealth of Nations and Das Kapital,and through the study of the inheritance and criticism of capital theory in The Wealth of Nations,this paper summarizes the transcendence of capital theory in Das Kapital to The Wealth of Nations.This paper holds that Das Kapital’s transcendence over the capital theory of The Wealth of Nations is not only the transcendence of the theory itself,but also covers the transcendence of research methods,analytical tools,research positions and research purposes.In the research of capital theory,Das Kapital replaces the normative research method and empirical research method of The Wealth of Nations with the dialectical historical materialism method.In the analysis of capital theory,Das Kapital not only inherited the analytical tool of The Wealth of Nations,but also created a new analytical tool.The use of labor theory of value and surplus theory of value makes Das Kapital more comprehensive and scientific.On the standpoint and purpose of studying capital theory,Das Kapital abandoned the consistent bourgeois standpoint of bourgeois economics and the goal of realizing wealth growth.Das Kapital stands on the human position,studies the capital theory for the realization of the free development and the comprehensive liberation of mankind.Finally,this paper extracts the ideological essence and research conclusion of capital theory in Das Kapital.Das Kapital believes that capital is not the use value but the value that has the function of multiplication value;Capital is not a simple thing with natural attributes,but a relationship of production with social attributes.Capital in the capitalist mode of production is not insufficient,but relative to the absolute excess of capital can not realize its function;Capital is not an absolute phenomenon but a historical temporary phenomenon.While capital produces the material basis of a higher social form,it also produces the historical conditions for its own demise.Thus it can be seen that the replacement of social forms has inevitability.Capital is not eternal,it is just a stage in history.It is the historical mission of capital to develop productive forces and promote human society to a higher social form.To sum up,by comparing the capital theories of The Wealth of Nations and Das Kapital,this paper aims to demonstrate that Das Kapital surpasses the capital theories of The Wealth of Nations and the systematicness and scientificity of the new capital theory system constructed by Das Kapital.