flatpackhamster I have run two businesses and found the whole experience quite boring (but that's me) and I won't have been the only person to have run a business, that is not deluded into thinking that profit is created in the act of exchange. There are plenty of business people that know perfectly well where profit comes from. Knowing it is not the same as saying it is exploitative but it is, a recognition of the facts.
Do I cling to theory? no I don't, I even find much to disagree with, both in Marx's analysis and other arguments on the left, such as the obsessional rantings about welfare and benefits.
The welfare state can no longer be afforded (we are told) and everything must be privatised (so the story goes) and yet, human labour power must continue to be made available, must continue to be educated and skilled and it must reproduce itself daily and generationally, if the capitalist is to remain in the game. A good capitalist maximises his profits by paying the workers a percentage only of the value they create and then he turns to his accountant and says "find a loophole" by minimising his tax and wages he is able to produce profits. But, if he pays low wages but still requires skilled living labour, someone other than the worker must pay for the training/education because the workers wages cannot cover this. But the state cannot afford to pay for this because the capitalist seeks to pay little in tax...and on it goes...why is the state paying for welfare and education, health, roads and infrastructure when the biggest beneficiaries of this largesse are capitalists?
Claig m-c-m is the circuit of exchange that produces capital from money, it only remains capital when that money is in motion, ie being thrown back into the same circulation. On each turn it removes money from circulation and the pot of capital grows. If I remove the money from that circulation to buy a handbag and a new car, it is money and no longer capital. On the other hand the circuit c-m-c comes to an end, in much the same way as when a peasant sells his commodity for money and buys another commodity with the money, the circuit ceases and in order to have either another commodity (of choice) or acquire money the peasant must start a new circuit.