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Karl Marx‘s Capital Vol. 2 (Part 4/4)

Theory & Philosophy

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The Total Social Capital

In Adam smith, the total social wealth is presented three ways. For exampleno for example, he believed they were presented as wages, profit or rent. The gross revenue is their total social produce, everything that is produced at the end of the day. Net revenue is what remains after we factor in all the costs of all the apitalists in their respective industries and how much they paid to actually produce t the things that came out at the end. Now this is interesting, because smith is like only working in terms of simple reproduction. He's not accounting for costs of actually expanding industry. His just covering, thinking that capitalists, all they'll do is spend money to cover

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