Marx’s Analysis of Interest-Bearing Capital and Credit in the 1864–65 Manuscript and Engels’s Editing for Part Five of Capital , Volume 3

This article examines Marx’s analysis of interest-bearing capital (IBC) and credit, as presented in chapter five of his 1864–65 Economic Manuscript, the foundation for volume 3 of Capital . After reviewing Marx’s treatment of these subjects in this and earlier manuscripts and correspondence, it addresses whether this analysis aligns with the level of abstraction in Capital . The article also explores Engels’s editing of this material in shaping part five of volume 3. It concludes that Marx gradually expanded his analysis of credit as a necessary complement to that of IBC and money, and that Engels’s editing faithfully reflects Marx’s manuscript, affirming part five of volume 3 as a robust theoretical framework for interpreting contemporary monetary phenomena within Marx’s overarching theory of value and surplus value. JEL Classification: B14, B40