Fixed Capital and Circulating Capital

  • Adalbert G. Lallier


Is money fixed capital or circulating capital?

In so far as it always serves merely as an instrument of circulation, which is itself a moment of the total reproduction process, it is fixed capital — as an instrument of circulation. But its use value itself is only to circulate and never to be absorbed either into the production process proper nor into individual consumption. It is the part of capital constantly fixed in the circulation phase, and in this respect it is the most perfect form of circulating capital; in the other respect, because it is fixed as an instrument, it is fixed capital.1


Productive Force Productive Power Fixed Capital Wage Labour Labour Time 
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Copyright information

© Dr Adalbert G. Lallier 1989

Authors and Affiliations

  • Adalbert G. Lallier
    • 1
  1. 1.Concordia UniversityMontrealCanada

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