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In Marxism, the valorisation or valorization of capital is the increase in the value of capital assets through the application of value-forming labour in production. The German original term is "''Verwertung''" (specifically ''Kapitalverwertung'') but this is difficult to translate, and often wrongly rendered as "realisation of capital", "creation of surplus-value" or "self-expansion of capital" or "increase in value".〔Christopher J. Arthur, ''A guide to Marx's Grundrisse in English'', p. 2, no date (CJA online website, circa 2009)()〕 In German, the general meaning of "Verwertung" is the productive use of a resource, and more specifically the use or application of something (an object, process or activity) so that it makes money, or generates value, with the connotation that the thing validates itself and proves its worth when it results in earnings, a yield. Thus, something is "valorised" if it has yielded its value (which could be use-value or exchange-value). Similarly, Marx's specific concept refers both to the process whereby a capital value is conferred or bestowed on something, and to the increase in the value of a capital asset, within the sphere of production. In modern translations of Marx's economic writings, such as the Penguin edition of ''Capital'' and the English ''Marx-Engels Collected Works'', the term valorisation (as in French) is preferred because it is recognized that it denotes a highly specific economic concept, i.e., a term with a technical meaning. Note: "Valorisation" is nowadays also a term used in the vocational training community, in academia and in project management. In this sense, it refers to getting the maximum value and usefulness out of education programmes and managed projects, by generalizing what has been learnt from the specialist experiences to other, related fields. In this modern sense of the word, the European Commission defines the term as "a process of exploiting project learning and outcomes (training products and processes, methodology, course materials etc.) with a view to optimising their value and impact in existing and new contexts (target groups, companies, sectors, training institutions and systems etc.).() This meaning is unrelated to Marx's concept, other than the reference to making the best use of an activity or getting the best value out of it for all concerned. The modern meaning relates not to capital, but to spreading the benefits of upskilling. ==Definition== Marx first refers the concept of valorization in chapter 4 of Capital Vol. 1, when he discusses the capitalist activity of buying commodities in order to sell them, and realize more value than existed before. Marx writes: The question then arises of how net new value can continuously and spontaneously emerge from trading activity. Marx’s answer is that net additional value can be realized in trading, because that additional value is already created previously in the production process. If a capitalist buys commodities for $100 and sells them for $120 then he has certainly made money, but he hasn't truly created more value than existed before, since the quantity of commodities is still exactly what it was before. To create more value requires extra production. At that point, the concept of valorization is modified. The capitalist production process, Marx argues, is both a labour process creating use-values and a value-creation process through which additional new value is created. However, value creation as such is not what the capitalist aims at. The capitalist wants his ''capital'' to increase. This means that the worker must create more value for the capitalist than he receives as wage from the capitalist. The worker must create not only new value but surplus value. A ''value creation process'' which goes beyond the point at which the worker has just created the equivalent of the value of his own labour power, and begins to increase the value of capital, is a ''valorisation process'', not just a value creation process. Valorisation thus specifically describes the increase in the value of capital assets through the application of living, value-forming labour in production. The "problem" of valorisation is: how can labour be applied in production so that capital value grows? How can assets be invested productively, so that they gain value rather than lose it? In ''Theories of Surplus Value'', chapter 3 section 6, Marx emphasizes his view that "Capital is productive of value only as a relation, in so far as it is a coercive force on wage-labour, compelling it to perform surplus-labour, or spurring on the productive power of labour to produce relative surplus-value." 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Valorisation」の詳細全文を読む スポンサード リンク
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