Te concrete way in which the process of the valorization of capital occurs in the periphery countries difers substantially from what happens in the core nations. Empirical studies aimed at taking account of these particularities should, in our view, comprise the cycle of capital in each country as a whole. In the present work, we make an estimate of the Marxist categories based on input-output tables for the United States and Argentina for the period 1997-2004. Tis estimate enables us to carry out a detailed comparison of all of the moments in the capital cycle of a core and a periphery economy, providing a methodologically consistent framework for empirical application of the analytical categories. Te results obtained from comparing each category allow us to conclude that structural diferences exist between the United States and Argentina at each moment of the cycle of the valorization of capital.