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Agricultural merchant capital and class formation in India


, : Agricultural merchant capital and class formation in India. Agricultura y Sociedad ( 50): 9-32

Some theoretical and empirical contradictions are discussed in this paper. First, in a strict sense merchant capital is not capital. It is not a source of surplus value but it shares in surplus value distributed as profits. By itself it cannot be a prime mover in the formation and dissolution of classes. But secondly, while merchant capital is analytically distinct, it is hardly ever found empirically in its pure form.

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