Sociology Plus
Capital Fractions Definition
In Marxist theory, capital is conceptualised as being internally divided along several distinct axes. These divisions include a separation between large-scale and small-scale capital, and another division distinguishing industrial, financial, and landed capital. Although these various fractions are understood to share a common interest because they all constitute forms of capital, this shared interest is often complicated by sectional conflicts of interest among them. This inherent sectionalism is partially mitigated or overcome through the actions and activities of the state.
Theoretical Context
Capital fractions represent an internal stratification within the concept of capital as analysed in Marxism, suggesting that capital is not monolithic but comprises distinct, interrelated forms.
Dynamics of Conflict
Despite the perceived commonality of interest among these different forms of capital, sectional conflicts arise between them. These conflicts introduce tensions into the system, highlighting the inherent contradictions within the structure of capital accumulation.
Role of the State
The influence of state activities is presented as a mechanism that partially resolves or manages the sectionalism and conflicts generated by these internal divisions among capital forms.