The Cycle of Capitalist Production

• Capitalist production starts with capital in the form of money: (M)

  • Aims to end up with more money capital at end of cycle: (M')

  • In between: the process of production

        M -> C -> Production -> C' -> M'

• Commodity inputs to production (C): labor-power, raw materials, machinery

  • Process of production adds value to inputs

  • Output of production C' must be sold for more money M'

• Production is motivate by profit

  • Accumulation of capital