According to economists whose theories currently prevail in America, economics has replaced political economy, and economics deals with scarcity, prices, and resource allocation. In the definition of Paul Samuelson, “economics or political economy, as it used to be called, is […]
Commodity Fetishism: an introduction to I.I. Rubin’s Essay on Marx’s Theory of Value
Equivalence and Abstraction The value forms presented so far contain an asymmetric or polar relation, whereby the property of symmetry and consequently the equivalence relation, which always includes referentiality, can already be established in the simple value form by means
general value form In order to obtain the general value form from the unfolded value form, only the simple operation of reversal is required, which implies that we are dealing virtually with a simultaneous second and third value form. Now
The problem of the value form Within the framework of value form analysis, Marx is not concerned with analyzing the exchange relationships of goods, whether as historical or logical, or as historical-logical forms of exchange, since capitalist exchange relationships with
The actualization of value depends on material, symbolic money, which as the counterpart of value – counterpart, insofar as money nourishes the illusion of being able to give crisisless form to the potentially infinite of exploitation – affirms and actualizes
The Marxist concept of value is very frequently equated, whether explicitly or merely tacitly, with the corresponding Ricardian concept of “labour expended”. This paper argues that unlike the Ricardian theory of value, the Marxist theory of value is a monetary
Marx’s Critique of (Ricardian) Political Economy, the Quantity Theory of Money and Credit Money
Karl Marx and the Classics An Essay on Value, Crises and the Capitalist Mode of Production by John Milios, Dimitri Dimoulis and George Economakis Marx’s Critique of Political Economy constitutes not a “correction” of Classical Political Economy’s “mistakes” or “misunderstandings
Marx’s Capital does not present an analysis of different economic ‘models’ of ‘themes’ (first the ‘simple commodity production’, then the ‘capitalist commodity’, etc.). It has a unique object of study, the capitalist mode of production (i.e. the immanent regularities and tendencies
Marx’s Value Theory Revisited. A ‘Value-form’ Approach
These are notes from, and for, a series of discussions on imperialism organised by Redline. (See here for other details) As such, they are not a fully rounded analysis, just some guidance on points in these debates. ————— A key point
Value of Labour-Power, Wages, Productivity and Imperialism
Exposition of the basic points of the Marxist theory of value and its ideological implications, of money (Parts I and II), of social capital and of crises (Parts III and IV) makes it clear that the theoretical analysis (the system
On the Character of Marxian Theory, “Ricardian Marxism” and the Role of F. Engels
An Interview with Robert Kurz – Sonia Montaño 1. What do you mean by “radical critique of value”? As you know, the traditional Marxists of the workers movement only accused capitalism of depriving the wage workers of the famous surplus-value,
Against Labor, against Capital – An Interview with Robert Kurz
Ernest Mandel’s contribution to Marxist economic theory, made in the late sixties and early seventies, was in its time without equal. He rescued from oblivion the most central concept available to us today in explaining the dynamics of uneven development
Ernest Mandel’s contribution to Economic Dynamics