Category Archives: monetarytheoryofvalue

Heinrich on Postone

A new translation of Michael Heinrich’s perceptive review of Postone’s Time Labor and Social Domination: This lopsidedness of Postone’s conception of the theory of value is continued in his concept of capital, which is developed solely from the perspective of … Continue reading

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Sotiropolous and Milios on Crisis and Fincialization

Whilst Re-reading Sotiropolous, Milios and Lapatsioras’s work on financialization, I was struck by their intriguing and counter intuitive analysis of financialization. In essence, in contrast to accounts that argue that financialization developed as a parasitic attempt to resuscitate profits in … Continue reading

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Reification, Crisis and Critical Social Theory

Here is the work in progress I will be presenting at the CSETPW tomorrow: The Rationalization of Isolated Activity and the irrational Whole: Lukács ,Reification and Critical Social Theory[1]   In March of 2005, Axel Honneth gave the Tanner Lectures … Continue reading

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Notes on Translation in Part One of Capital Continued.

An odd translation of the following passage on the necessary expression of the value-form by Fowkes that substitutes ‘material and non-mental’ for objective (‘sachlichen.’) ‘On the other hand, it is in fact necessary that value, as opposed to the multifarious … Continue reading

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Money in 1861-63.

One of several passages that are good on the role of money as measure as well as its social genesis i.e. what Jura I think rightly stresses are the qualitative and quantitative aspects of Marx’s monetary theory of value: “Thus, … Continue reading

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Marx on Ricardo Continued.

A great passage that shows the qualitative difference between Ricardo and Marx and the importance of money in Marx’s theory of value: “Ricardo’s mistake is that he is concerned only with the magnitude of value. Consequently his attention is concentrated … Continue reading

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Marx on Money from Historical Notes on Analysis of Commodities.

Gopal Balakrishnan posted these notes by Marx on Facebook. I’d never come across them before but they feature a good comparison between Neo-Ricardian socialist theories of value and Marx’s monetary theory of value:  Since labour-time is the substance and the … Continue reading

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