Commodity Fetishism
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Value's Law, Value's Metric
Values Law Values Metric by P Co ckshott A Cottrell Research Rep ort RR Novemb er Values Law Values Metric W Paul Co ckshott and Allin F Cottrell septemb er Abstract It is argued that the metric space of exchanging commo dities is noneuclidean and characteristic of a system governed by a conservation law The p ossible can didates for what is conserved in commo dity exchange are reviewed with reference to inverted inputoutput matrices of the British economy Strong evidence is pre sented that the conserved substance is lab our The arguments of Mirowski and others regarding the appropriateness of such physicalist arguments are discussed What is meant by the law of value The phrase law of value is little used by Marx but p opular among his followers It has no precise denition of the typ e that one would exp ect for a scientic law Laws such as Ho okes law or Boyles law have a concise denition that any chemist or physicist could rep eat but it is doubtful if anywhere in the Marxist literature there exists a comparable denition of the law of value On the basis of what Ricardo and Marx wrote on the theory we would advance the following as a reasonable denition The law of value states that value understood as the labour time social ly necessary to produce a commodity is conserved in the exchange of commodities The advantages of this denition are that it is cast in the normal form of a sci entic law it is empirically testable it has a precise meaning and it emphasizes the fundamental Marxian prop osition that value cannot arise in circulation -
The Proletariat
The Proletariat • What defines the proletariat? (Manifesto, 8a) o Wage laborers Because they must “sell themselves piecemeal,” (rent themselves out by the day or hour) they are a commodity As a commodity, exposed to all the fluctuations of the market o The commodification of the wage laborer in Marx’s economics The labour theory of value • Use value vs. exchange value • The exchange value of a product or commodity = the quantity of average human labor incorporated into the product or commodity The theory of surplus value • Profit comes from buying and selling labor –buying labor with wages, selling the labor incorporated into commodities • Proletarians live only as their labor increases capital o Capital = wealth devoted to production of wealth o Because of the need to constantly revolutionize the instruments of production, a good portion of the “profit” generated must converted back to capital o The lives wage laborers tied to systemic needs for increased capital 19-1 Alienation • To be alienated is to be “othered” – to be separated or estranged from oneself • Early attempt to explain the fundamental features of bourgeois economic reality as rooted in the alienation of the worker (“Estranged Labor” in the 1844 manuscripts) • Work in general is simply a process in which a human incorporates his or her ideas into matter o It is the distinctively human activity of self-expression • Under capitalism, work becomes not self-expression, but something that separates the workers from themselves and their humanity • There are four interconnected -
Advertising and the Creation of Exchange Value
University of Massachusetts Amherst ScholarWorks@UMass Amherst Doctoral Dissertations Dissertations and Theses Summer November 2014 Advertising and the Creation of Exchange Value Zoe Sherman University of Massachusetts Amherst Follow this and additional works at: https://scholarworks.umass.edu/dissertations_2 Part of the Economic History Commons, Political Economy Commons, and the Public Relations and Advertising Commons Recommended Citation Sherman, Zoe, "Advertising and the Creation of Exchange Value" (2014). Doctoral Dissertations. 205. https://doi.org/10.7275/5625701.0 https://scholarworks.umass.edu/dissertations_2/205 This Open Access Dissertation is brought to you for free and open access by the Dissertations and Theses at ScholarWorks@UMass Amherst. It has been accepted for inclusion in Doctoral Dissertations by an authorized administrator of ScholarWorks@UMass Amherst. For more information, please contact [email protected]. ADVERTISING AND THE CREATION OF EXCHANGE VALUE A Dissertation Presented by ZOE SHERMAN Submitted to the Graduate School of the University of Massachusetts Amherst in partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY September 2014 Economics © Copyright by Zoe Sherman 2014 All Rights Reserved ADVERTISING AND THE CREATION OF EXCHANGE VALUE A Dissertation Presented by ZOE SHERMAN Approved as to style and content by: ______________________________________ Gerald Friedman, Chair ______________________________________ Michael Ash, Member ______________________________________ Judith Smith, Member ___________________________________ Michael Ash, Department Chair Economics DEDICATION Dedicated to the memory of Stephen Resnick. ACKNOWLEDGMENTS I have had many strokes of good fortune in my life, not least the intellectual and emotional support I have enjoyed throughout my graduate studies. Stephen Resnick, Gerald Friedman, Michael Ash, and Judith Smith were the midwives of this work. -
A Crisis of Commitment: Socialist Internationalism in British Columbia During the Great War
A Crisis of Commitment: Socialist Internationalism in British Columbia during the Great War by Dale Michael McCartney B.A., Simon Fraser University, 2004 THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF ARTS In the Department of History © Dale Michael McCartney 2010 SIMON FRASER UNIVERSITY Spring 2010 All rights reserved. However, in accordance with the Copyright Act of Canada, this work may be reproduced, without authorization, under the conditions for Fair Dealing. Therefore, limited reproduction of this work for the purposes of private study, research, criticism, review and news reporting is likely to be in accordance with the law, particularly if cited appropriately. APPROVAL Name: Dale Michael McCartney Degree: Master of Arts Title of Thesis: A Crisis of Commitment: Socialist Internationalism in British Columbia during the Great War Examining Committee: Chair: Dr. Emily O‘Brien Assistant Professor of History _____________________________________________ Dr. Mark Leier Senior Supervisor Professor of History _____________________________________________ Dr. Karen Ferguson Supervisor Associate Professor of History _____________________________________________ Dr. Robert A.J. McDonald External Examiner Professor of History University of British Columbia Date Defended/Approved: ________4 March 2010___________________________ ii Declaration of Partial Copyright Licence The author, whose copyright is declared on the title page of this work, has granted to Simon Fraser University the right to lend this thesis, project or extended essay to users of the Simon Fraser University Library, and to make partial or single copies only for such users or in response to a request from the library of any other university, or other educational institution, on its own behalf or for one of its users. -
The Emergence of the Law of Value in a Dynamic Simple Commodity Economy
Review of Political Economy, Volume 20, Number 3, 367–391, July 2008 The Emergence of the Law of Value in a Dynamic Simple Commodity Economy IAN WRIGHT Faculty of Social Sciences, The Open University, Milton Keynes, UK ABSTRACT A dynamic computational model of a simple commodity economy is examined and a theory of the relationship between commodity values, market prices and the efficient division of social labour is developed. The main conclusions are: (i) the labour value of a commodity is an attractor for its market price; (ii) market prices are error signals that function to allocate the available social labour between sectors of production; and (iii) the tendency of prices to approach labour values is the monetary expression of the tendency of a simple commodity economy to allocate social labour efficiently. The model demonstrates that, in the special case of simple commodity production, Marx’s law of value can naturally emerge from multiple local exchanges and operate ‘behind the backs’ of actors solely via money flows that place budget constraints on their local evaluations of commodity prices, which are otherwise subjective and unconstrained. 1. Introduction Marx, following Ricardo, held a labour theory of the economic value of reprodu- cible commodities. The value of a commodity is determined by the prevailing technical conditions of production and measured by the socially necessary labour-time required to produce it (Marx, 1867). The value of a commodity is to be distinguished from its price, which is the amount of money it fetches in the market. According to Marx, although individual economic actors may differ in their subjective evaluations of the worth or ‘value’ of commodities, market prices are nevertheless determined by labour values due to the operation of the ‘law of value’, an objective economic law that emerges as an unintended consequence of local and distributed market exchanges. -
The Discontents of Marxism
Munich Personal RePEc Archive The discontents of Marxism Freeman, Alan London Metropolitan University 30 December 2007 Online at https://mpra.ub.uni-muenchen.de/48635/ MPRA Paper No. 48635, posted 27 Jul 2013 14:16 UTC The discontents of Marxism Alan Freeman London Metropolitan University Abstract This is a pre-publication version of a full-length review of Kuhn, R. (2007) Henryk Grossman and the Recovery of Marxism. Urbana and U of Illinois. Please cite as Freeman, A. 2008. ‘The Discontents of Marxism’. Debatte, 16 (1), April 2008 pp. 122-131 Keywords: Economics, Marxism, Value Theory, Marxist political economy, Marxist Economics, Kondratieff, Grossman JEL Codes: B14, B31, B51 2008j Grossman Review for MPRA.doc Page 1 of 9 Alan Freeman The discontents of Marxism Review of Kuhn, R. (2007) Henryk Grossman and the Recovery of Marxism By Alan Freeman, London Metropolitan University In 1977, volumes 2 and 3 of Capital and Class, journal of the seven-year old Conference of Socialist Economists, carried Pete Burgess’s translation of Henryk Grossman’s 1941 review article Marx, Classical Political Economy and the Problem of Dynamics. Of this Kuhn (p190) justly remarks ‘It was and remains one of the most impressive critiques of the methodological underpinnings of the body of ideas known as economics in most universities and the media’. The second part of this article offers a devastating dissection of the approach known as ‘general equilibrium’, which now dominates not only orthodox but ‘Marxist’ economics. Had the participants in the next thirty years of debate around Marx’s economic theories treated this article with even normal professional diligence, most of what passes for ‘theory’ in this field would probably never have been written. -
Marx, Historical Materialism and the Asiatic Wde Of
MARX, HISTORICAL MATERIALISM AND THE ASIATIC WDE OF PRODUCTION BY Joseph Bensdict Huang Tan B.A. (Honors) Simon Fraser University 1994 THESIS SUBMITTED IN PARTIAL FULLFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF ARTS IN THE SCHOOL OF COMMUN ICATION @Joseph B. Tan 2000 SIMON FRASER UNIVERSITY July 2000 Al1 rights reserved. This work may not be reproduced in whole or in part, by photocopy or other means, without permission of the author. uisitions and Acguiiiet raphii Senrices senrices bibiiihiques The author has granted a non- L'auteur a accordé une licence non exclusive licence allowing the exclusive permettant à la National Li'brary of Canada to BibIiothèque nationale du Canada de reproduceYloan, distriiute or sel1 reproduireyprêter, distribuer ou copies of this thesis in microh, vendre des copies de cette thèse sous papa or electronic formats. la fome de micro fi ch el^ de reproduction sur papier ou sur format électronique. The author tetains ownership of the L'auîeur conserve la propriété du copyright in this thesis*Neither the droit d'auteur qui protège cette thèse. thesis nor substantial extracts iÏom it Ni la thèse ni des extraits substantiels may be printed or otherwise de celle-ci ne doivent être imprimés reproduced without the author's ou autrement reproduits sans son permission. autorisation. ABSTRACT Historical materialism (HM), the theory of history originally developed by Marx and Engels is most comrnonly interpreted as a unilinear model, which dictates that al1 societies must pass through definite and universally similar stages on the route to communism. This simplistic interpretation existed long before Stalin and has persisted long after the process of de-Stalinization and into the present. -
The Survival of Capitalism: Reproduction of the Relations Of
THE SURVIVAL OF CAPITALISM Henri Lefebvre THE SURVIVAL OF CAPITALISM Reproduction of the Relations of Production Translated by Frank Bryant St. Martin's Press, New York. Copyright © 1973 by Editions Anthropos Translation copyright © 1976 by Allison & Busby All rights reserved. For information, write: StMartin's Press. Inc.• 175 Fifth Avenue. New York. N.Y. 10010 Printed in Great Britain Library of Congress Catalog Card Number: 75-32932 First published in the United States of America in 1976 AFFILIATED PUBLISHERS: Macmillan Limited. London also at Bombay. Calcutta, Madras and Melbourne CONTENTS 1. The discovery 7 2. Reproduction of the relations of production 42 3. Is the working class revolutionary? 92 4. Ideologies of growth 102 5. Alternatives 120 Index 128 1 THE DISCOVERY I The reproduction of the relations of production, both as a con cept and as a reality, has not been "discovered": it has revealed itself. Neither the adventurer in knowledge nor the mere recorder of facts can sight this "continent" before actually exploring it. If it exists, it rose from the waves like a reef, together with the ocean itself and the spray. The metaphor "continent" stands for capitalism as a mode of production, a totality which has never been systematised or achieved, is never "over and done with", and is still being realised. It has taken a considerable period of work to say exactly what it is that is revealing itself. Before the question could be accurately formulated a whole constellation of concepts had to be elaborated through a series of approximations: "the everyday", "the urban", "the repetitive" and "the differential"; "strategies". -
The Critique of Real Abstraction: from the Critical Theory of Society to the Critique of Political Economy and Back Again
The Critique of Real Abstraction: from the Critical Theory of Society to the Critique of Political Economy and Back Again Chris O’Kane John Jay, CUNY [email protected] There has been a renewed engagement with the idea of real abstraction in recent years. Scholars associated with the New Reading of Marx, such as Moishe Postone, Chris Arthur, Michael Heinrich, Patrick Murray, Riccardo Bellofiore and others,1 have employed the idea in their important reconstructions of Marx’s critique of political economy. Alberto Toscano, Endnotes, Jason W. Moore and others have utilized and extended these theorizations to concieve of race, gender, and nature as real abstractions. Both the New Reading and these new theories of real abstraction have provided invaluable work; the former in systematizing Marx’s inconsistent and unfinished theory of value as a theory of the abstract social domination of capital accumulation and reproduction; the latter in supplementing such a theory. Yet their exclusive focus on real abstraction in relation to the critique of political economy means that the critical marxian theories of real abstraction -- developed by Alfred Sohn- Rethel, Theodor W. Adorno and Henri Lefebvre -- have been mostly bypassed by the latter and have largely served as the object of trenchant criticism for their insufficient grasp of Marx’s theory of value by the former. Consequently these new readings and new theories of real abstraction elide important aspects of Sohn-Rethel, Adorno and Lefebvre’s critiques of real abstraction; which sought to develop Marx’s critique of political economy into objective-subjective critical theories of the reproduction of capitalist society.2 However, two recent works by 1 Moishe Postone’s interpretation of real abstraction will be discussed below. -
Theory of History in Which the Proletariat Inevitably End up the Dominant Order; This Has Proven Historically to Be False
9/24/07 Marxism • Marxism is many different kinds of theories at once: • theory of history in which the proletariat inevitably end up the dominant order; this has proven historically to be false. • a critique of capitalism. This body of theory can be relevant to literature, but we’re not going to get into it explicitly. Barry and Richter give some sense of this; for the midterm, I’ll have you learn some terms so that you’ll be at least somewhat conversant with this kind of thinking if you run into it again. • a sort-of-literary theory. I say “sort of” because what Marx and others theorize is larger than literature: “consciousness and its expressions,” which would include not only literature but all of the arts, religion, politics, law, and so on. This is the part of Marxist theory we’re going to center on, because it raises a really huge problem for post-NC Theory in general, or least for all political theories (and we know that, as Barry says, “politics is pervasive” in post-NC theory, so ALL Theory is political according to this view). • Starting point: 410: “In the social production…determines their consciousness.” Some things to point out: • base/superstructure. “Relations of production”--economic system, more or less. At the most fundamental level, people have to survive, and the way we do that as a species is to produce stuff. But we don’t do that on our own; we do it as part of some kind of economic system that we are born into. -
Money As 'Universal Equivalent' and Its Origins in Commodity Exchange
MONEY AS ‘UNIVERSAL EQUIVALENT’ AND ITS ORIGIN IN COMMODITY EXCHANGE COSTAS LAPAVITSAS DEPARTMENT OF ECONOMICS SCHOOL OF ORIENTAL AND AFRICAN STUDIES UNIVERSITY OF LONDON [email protected] MAY 2003 1 1.Introduction The debate between Zelizer (2000) and Fine and Lapavitsas (2000) in the pages of Economy and Society refers to the conceptualisation of money. Zelizer rejects the theorising of money by neoclassical economics (and some sociology), and claims that the concept of ‘money in general’ is invalid. Fine and Lapavitsas also criticise the neoclassical treatment of money but argue, from a Marxist perspective, that ‘money in general’ remains essential for social science. Intervening, Ingham (2001) finds both sides confused and in need of ‘untangling’. It is worth stressing that, despite appearing to be equally critical of both sides, Ingham (2001: 305) ‘strongly agrees’ with Fine and Lapavitsas on the main issue in contention, and defends the importance of a theory of ‘money in general’. However, he sharply criticises Fine and Lapavitsas for drawing on Marx’s work, which he considers incapable of supporting a theory of ‘money in general’. Complicating things further, Ingham (2001: 305) also declares himself ‘at odds with Fine and Lapavitsas’s interpretation of Marx’s conception of money’. For Ingham, in short, Fine and Lapavitsas are right to stress the importance of ‘money in general’ but wrong to rely on Marx, whom they misinterpret to boot. Responding to these charges is awkward since, on the one hand, Ingham concurs with the main thrust of Fine and Lapavitsas and, on the other, there is little to be gained from contesting what Marx ‘really said’ on the issue of money. -
The Dangerous Class: the Concept of the Lumpenproletariat
Review The dangerous class: The concept of the lumpenproletariat Clyde W. Barrow, University of Michigan Press, Ann Arbor, 2020, xii+196pp., ISBN: 978-0472132249 Contemporary Political Theory (2021). https://doi.org/10.1057/s41296-021-00487-9 An oft-cited description of the lumpenproletariat comes from Marx’s The Eighteenth Brumaire of Louis Bonaparte. The Parisian lumpenproletariat that Louis Bonaparte recruited during the French class struggles of 1848–1851 in order to defeat the proletariat and ultimately to seize state power consisted of the following: Alongside decayed roue´s with dubious means of subsistence and of dubious origin, alongside ruined and adventurous offshoots of the bourgeoisie, were vagabonds, discharged soldiers, discharged jailbirds, escaped galley slaves, swindlers, mountebanks, lazzaroni, pickpockets, tricksters, gamblers, ma- quereaus, brothel keepers, porters, literati, organ grinders, ragpickers, knife grinders, tinkers, beggars – in short, the whole indefinite, disintegrated mass, thrown hither and thither, which the French call la bohe`me (1963: 75). As self-interested hustlers whose services are for sale to the highest bidder, the lumpenproletariat – a term Marx and Engels created – is typically co-opted, as Bonaparte demonstrates, by reactionary movements. However, Marx’s taxonomy indicates the difficulty of locating a synthesized and explanatory definition for a term presented here as an ‘indefinite’ alterity with no clear framework of composition. The term has seemed, to some commentators, incoherent or reflective of scorn toward the disreputable or poor (Bussard, 1987; Draper, 1972; Hardt and Negri, 2004). Others – typically literary and cultural critics (Stallybrass, 1990; Mills, 2017) – have approached it as the discursive trace of a complex social scene that escapes full schematization by class relations.