Tag Archives: utility

Value and Price Q&A

I have been looking forward to finally putting together a script for a video on Value and Price. As a preparation for that task I’ve written the following: an attempted summary of my understanding the topic. The text is peppered … Continue reading

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Marginal Futility- Reflections on Simon Clarke’s “Marx, Marginalism and Modern Sociology”

Reflections on Simon Clarke’s “Marx, Marginalism and Modern Sociology” I say “reflections” but this post is mostly a summary of parts of this great book by Simon Clarke. I read Clarke’s book “Marx’s Theory of Crisis” a year ago and … Continue reading

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Law of Value 7: Production and Exchange

This is part 7 of a series on the law of value. Part 1: Part 2: Part 3: Production- Exchange script We get into trouble anytime we try to understand something in isolation. The true meaning of things exist not … Continue reading

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draft- Law of Value 7: Production and Exchange

Here is the initial draft of my Law of Value 7 script. I would appreciate any constructive feedback before I begin production of the video later this week. This script was delayed considerably by several things. I was sidetracked by … Continue reading

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Law of Value 4: Use-value, Exchange-value, Value: draft 2

Not only is this the best starting place for an analysis of society, it is also the best starting point for a radical social theory whose aim is to investigate the possibility of changing the world. If we realize that human society is not the result of some natural or divine eternal logic but merely the creation of our own labor then that means that we have the power to mold and shape that society as we see fit. In a capitalist society these creative powers take the form of an external world of value and capital that acts back upon society, shaping it against the will of its creators. Yet, in the end the world of capital is nothing but the product of our own creation. If we truly want to change the world it is not up to nature, God, fate or experts, but up to us. This is the radical challenge of the law of value. Continue reading

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Law of Value 3: Das MudPie

If you spend any time reading about Marx’s theory of value on the internet you probably will come across some version of this asinine excuse for a critique called “the mudpie argument.” The basic style of the mudpie argument is similar to many advanced by those who know nothing about Marx’s theory of value: one constructs a ridiculous strawman argument that has nothing to do with Marx and then proceeds to knock it down with “devastating” brilliance, moral outrage, and a few clever asides about Stalinism. The MudPie argument goes something like this:

Marx claimed that labor is what gives all commodities value. But what if I make a mudpie? This is a product of labor yet nobody will buy it. It has no value. So Hah! Take that Karl Marx! Continue reading

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