Tag Archives: labor theory of value

Law of Value 8: Subject/Object

Law of Value 8: Subject/Object part 1: part 2: part 3: part 4: One of the more common objections raised to Marx’s theory of value, at least here in the theoretical void of cyberspace, is the objection posed by subjective … Continue reading

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further draft of subject-object

Perhaps it borders on narcissism to think that the world is interested in following the successive redrafting of the scripts to my videos. But I suppose there are worse things to clutter the internet with. I do always find feedback … Continue reading

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Law of Value 8: Subject/Object -draft

This is a draft of my script for the 8th video in my Law of Value series (see link to the right). All comments and criticisms are extremely welcome… that’s why I post these scripts before going into production. Subject/Object … Continue reading

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Subject/Object- thoughts

subject/object- preliminary thoughts. While I often post early drafts of scripts on the blog it is not often that I actually post something of this sort- a pre-draft exploration of a topic. I am doing so because I find the … Continue reading

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Kapital vol 3; Chapter 14. Counteracting Influences

Capital Vol. III Part III: The Law of the Tendency of the Rate of Profit to Fall Chapter 14. Counteracting Influences (This post is part of an ongoing project: a close reading of volume 3 of Kapital, one post per … Continue reading

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Law of Value 6: Socially Necessary Labor Time

We’ve probably all heard Marx’s famous description of the higher phase of communism: “From each according to his ability, to each according to his need.” Marx didn’t actually come up with this phrase but he quotes it in one his rare commentaries on communism. Here an hour of one person’s work is equal to an hour of anyone else’s, creating a basis for real equality throughout society, regardless of the productive abilities (or privileges) of individuals. In the Critique of the Gotha Program Marx describes the lower phase of communism as a system in which, after an hour of labor, all workers receive a certificate entitling them to a certain amount of consumption goods in proportion to their working time, not their level of productivity. There is no SNLT, and no inequality, because everyone’s work has the same social power. Obviously this is not a robust plan for how a communist society should be run. But it gives us a glimpse into the sort of radical questions we should be asking ourselves when thinking about communism. Continue reading

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Law of Value 5: Contradiction

We are all painfully aware that modern society is full of social antagonisms. There’s poverty amidst great wealth, over-work alongside massive unemployment, banks taking away homes, gentrification, racial tensions, violence against women, labor struggles, environmental apartheid, police brutality, gang violence, hate groups, massive dislocations of populations, and lots of war. Marx was interested in explaining all of these antagonisms, but he doesn’t start his analysis with any of them. Continue reading

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Law of Value 6 (or 5): Contradictions – a draft

Marx is always talking about contradictions in the law of value. But these aren’t logical contradictions like “round square” or “military intelligence”. They are contradictions inscribed into the very heart of the social relations of a capitalist society. Some prefer to use the word “antagonisms”. Continue reading

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Law of Value- Introduction

This video series will cover various topics in Marx’s theory of value: The difference between use-value, exchange value and value, the relation of supply, demand and price to value, abstract labor, exploitation, crisis, socially necessary labor time, and even what an understanding of value can tell us about changing the world. It is hoped that they can contribute to a better appreciation of the importance of value theory to radical movements today as they seek ideas with which to articulate their demands and strategies. Continue reading

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Das Kapital vol.3 Chapter 9: Formation of a General Rate of Profit (Average Rate of Profit) and Transformation of the Values of Commodities into Prices of Production

In all of the consternation, debate and quarreling over Marx’s value theory this chapter, chapter 9 of volume 3, lies in the center of much of that (though perhaps chapter 10 even more so). Continue reading

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