Works of Karl Marx

Capital Volume III

The Process of Capitalist Production as a Whole

Written: Karl Marx, 1863-1883, edited by Friedrick Engels and completed by him 11 years after Marx's death;
Source: Institute of Marxism-Leninism, USSR, 1959;
Publisher: International Publishers, NY, [n.d.]
First Published: 1894;
On-Line Version: 1996, 1999;
Transcribed: in 1996 by Hinrich Kuhls, Dave Walters and Zodiac, and by Tim Delaney and M. Griffin in 1999;
HTML Markup: Zodiac 1996, Tim Delaney and M. Griffin in 1999;
Proofed and Corrected: by Chris Clayton 2006-7, Mark Harris 2010.

PDF version (3,500kb), ePub version (900kb), PRC version (1,500kb).



Part I
The Conversion of Surplus-Value into Profit and of
the Rate of Surplus-Value into the Rate of Profit

Ch. 1: Cost-Price and Profit
Ch. 2: The Rate of Profit
Ch. 3: The Relation of the Rate of Profit to the Rate of Surplus-Value
Ch. 4: The Effect of the Turnover on the Rate of Profit
Ch. 5: Economy in the Employment of Constant Capital
Ch. 6: The Effect of Price Fluctuations
Ch. 7: Supplementary Remarks

Part II
Conversion of Profit into Average Profit

Ch. 8: Different Compositions of Capitals in Different Branches of Production and Resulting Differences in Rates of Profit
Ch. 9: Formation of a General Rate of Profit (Average Rate of Profit) and Transformation of the Values of Commodities into Prices of Production
Ch. 10: Equalisation of the General Rate of Profit Through Competition. Market-Prices and Market-Values. Surplus-Profit.
Ch. 11: Effects of General Wage Fluctuations on Prices of Production
Ch. 12: Supplementary Remarks

Part III
The Law of the Tendency of the Rate of Profit to Fall

Ch. 13: The Law as Such
Ch. 14: Counteracting Influences
Ch. 15: Exposition of the Internal Contradictions of the Law

Part IV
Conversion of Commodity-Capital and Money-Capital into Commercial
Capital and Money-Dealing Capital (Merchant's Capital)

Ch. 16: Commercial Capital
Ch. 17: Commercial Profit
Ch. 18: The Turnover of Merchant's Capital
Ch. 19: Money-Dealing Capital
Ch. 20: Historical Facts about Merchant's Capital

Part V
Division of Profit into Interest and Profit of Enterprise.
Interest-Bearing Capital.

Ch. 21: Interest-Bearing Capital
Ch. 22: Division of Profit. Rate of Interest. Natural Rate of Interest.
Ch. 23: Interest and Profit of Enterprise
Ch. 24: Externalisation of the Relations of Capital in the Form of Interest-Bearing Capital
Ch. 25: Credit and Fictitious Capital
Ch. 26: Accumulation of Money-Capital. Its Influence on the Interest Rate.
Ch. 27: The Role of Credit in Capitalist Production
Ch. 28: Medium of Circulation and Capital; Views of Tooke and Fullarton
Ch. 29: Component Parts of Bank Capital
Ch. 30: Money-Capital and Real Capital. I
Ch. 31: Money-Capital and Real Capital. II
Ch. 32: Money-Capital and Real Capital. III
Ch. 33: The Medium of Circulation in the Credit System
Ch. 34: The Currency Principle and the English Bank Legislation of 1844
Ch. 35: Precious Metal and Rate of Exchange
Ch. 36: Pre-Capitalist Relationships

Part VI
Transformation of Surplus-Profit into Ground-Rent

Ch. 37: Introduction
Ch. 38: Differential Rent: General Remarks
Ch. 39: First Form of Differential Rent (Differential Rent I)
Ch. 40: Second Form of Differential Rent (Differential Rent II)
Ch. 41: Differential Rent II — First Case: Constant Price of Production
Ch. 42: Differential Rent II — Second Case: Falling Price of Production
Ch. 43: Differential Rent II — Third Case: Rising Price of Production
Ch. 44: Differential Rent Also on the Worst Cultivated Soil
Ch. 45: Absolute Ground-Rent
Ch. 46: Building Site Rent. Rent in Mining. Price of Land.
Ch. 47: Genesis of Capitalist Ground-Rent

Part VII
Revenues and their Sources

Ch. 48: The Trinity Formula
Ch. 49: Concerning the Analysis of the Process of Production
Ch. 50: Illusions Created by Competition
Ch. 51: Distribution Relations and Production Relations
Ch. 52: Classes

Frederick Engels.
Supplement to Capital, Volume Three

A) Introduction
B) The Law of Value and Rate of Profit
C) The Stock Exchange