16 Apr , 2020  

This article investigates the mechanisms and causes of recessions and depressions, and their relation to the more spectacular financial crises which announce them. It demonstrates how the concept of the Monetary Expression of Labour Time (MELT) allows us to understand the most difficult aspect of this relation, namely how money ...

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Value, Fictitious Capital and Finance. The Timeless of Karl Marx’s Capital

2 Apr , 2020  

Karl Marx is not a proponent of classical value theory as labour expended. Marx developed in Capital and his other mature economic writings a monetary theory of value and capital.2 He analysed value as an expression of relations exclusively characteristic of the capitalist mode of production. Value registers the rela-tionship ...

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Planning and Anarchy

12 Feb , 2020  

Planning and Anarchy

Central planning?! Computers can do it!!! Among the intuitions animating the contemporary left, we must rank rather high the felt sense that powerful new computing technologies now offer a solution to problems of calculation previously insuperable for the red-eyed central planners of “actually existing” socialist states. This ...

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Marx`Theory of Value (2)

17 Dez , 2019  

  1. simple and unfolded value form

On the one hand, we take a look at the so-called capital-logical reading (which has been widely discussed since the 1968 student movement, especially in Germany, based on Hans-Georg Backhaus as an analysis of value forms, cf. Backhaus 1997/ Elbe 2008) and on the other ...

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Kojin Karatani and the Historotranscendental Logic of Capital

7 Nov , 2019  

If one wants to follow the Japanese philosopher Kojin Karatani, Marx has posed the problem of the value form and value in the course of the theoretical treatment of the antinomy of intrinsic value and value relativism. (Cf. Karatani 2003) For Marx, this problem presented itself as follows with regard ...

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Value Theory

18 Okt , 2019  

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 its assertiveness in the price form. To this end, it ...

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11 Aug , 2019  


Of all the domains of Marxian political economy, nature is by far the most vexing. Is nature an economic input as in the notion of natural resources; is it the object of labour in the process of production; or is it something broader, as in the idea of land ...

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Perfect Machines: Artificial Intelligence and the Labour Theory of Value

3 Aug , 2019  

Paper presented at “Marx’s Critique of Political Economy and the Global Crisis Today. On the 150th Anniversary of the Publication of Capital”, Hofstra University, April 6-7, 2017.

“Someone once said that it is easier to imagine the end of the world than to imagine the end of capitalism.”
– Frederic ...

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Introduction to Michel Husson’s ‘Value and price: a critique of neo-Ricardian claims’

12 Nov , 2018  

Michel Husson originally published this landmark article in French as Manuel Perez (1980). This translation makes this historic work accessible to Anglophone readers. It thus offers a new generation of Marx scholars a resource which academic Marxism has rejected, except for a minority tradition in which this article played a ...

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Against the Valorization of Life – Part I

20 Sep , 2018  

We have nothing to sell you and we are not trying to seduce our fellow proletarians. We are not a groupuscule seeking to compete over prestige or influence with the rest of the other groupuscules and parties which claim to represent the exploited and which seek to govern them. We ...

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Karl Marx

29 Mrz , 2018  

… Marx himself considered his theory of surplus-value his most important contribution to the progress of economic analysis (Marx, letter to Engels of 24 August 1867). It is through this theory that the wide scope of his sociological and historical thought enables him simultaneously to place the capitalist mode of ...

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Biopolitics, EconoFiction

Brian Massumis “On the Revaluation of Value” (1)

12 Mrz , 2018  

Brian Massumi, der Tausend Plateaus ins Englische übersetzt hat, plädiert in seinem brandneuen »Postkapitalistischen Manifest« für eine alternative Konzeption des Werts, der zuletzt immer stärker der Komplizenschaft mit normativen Ideologien a la Habermas oder mit der kapitalistischen Macht bezichtigt wurde. Dagegen geht es Massumi keineswegs um die Rehabilitierung des Werts ...

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