Essay

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Write an essay of at least four pages (double-spaced, normal font, font-size, margins, etc.) on the following:

Everything should be based on the book “Karl Marx, Capital: A Critique of Political Economy, volume I”. No other sources.

“M-C-M” is in fact therefore the general formula for capital, in the form in which it appears directly in the sphere of circulation. (Page 257)

What is general in the general formula?

Why is it necessary to specify that it is the general formula as it appears directly in the sphere of circulation? What does appear? What does not appear?

Why is the general formula for capital, so also the sphere of circulation, inadequate for the full understanding of capital (or, if you want to be Hegelian, why is it inadequate to the concept of capital)?

What else is required to make the formula adequate?

Note: In your answer, be sure to distinguish between conceptual and historical concerns.

No quotations, use your own words (though, obviously, you can use Marx’s terms). No introduction or conclusion, start straight on the questions.