Tag Archives: value

Episode 18: The Value-Form Paradigm vs. Marx’s “Capital,” Part 2

MHI · The Value-Form Paradigm vs. Marx’s “Capital,” Part 2 — Ep. 18 Episode 18: The Value-Form Paradigm vs. Marx’s “Capital,” Part 2 MHI · The Value-Form Paradigm vs. Marx’s “Capital,” Part 2 — Ep. 18 The second half of … Continue reading

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Episode 17: The Value-Form Paradigm vs. Marx’s “Capital,” Part 1

  Some years ago, Andrew participated in a published symposium on the “value-form paradigm”—a Marx-inspired and market-focused strand of political economy. Andrew and others criticized the value-form paradigm, and the noted value-form theorist Patrick Murrayresponded to them. In this episode … Continue reading

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Indirectly Social Labor

Indirectly Social Labor (This is a draft chapter. Comments appreciated.) This chapter considers Marx’s distinction between directly social and indirectly social labor. Indirectly social labor is a key concept used by Marx to characterize the distinctive nature of capitalism. Any … Continue reading

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On Labor as the Substance of Value

(This is a draft. All comments welcome. Citations and footnotes are incomplete.) Labor as Substance of Value Once Marx has established that value is a property intrinsic to commodities he immediately goes on to ask what this value is and … Continue reading

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Intrinsic Value

(What follows is a draft. Citations and footnotes are incomplete.) Intrinsic Value [cite Kliman’s paper on Intrinsic Value as helping me to understand the importance of the concept.] Throughout the opening chapter of Capital Marx jousts with many intellectual opponents, … Continue reading

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Surplus Value (draft)

Another draft chapter for my book. All comments welcome. The most interesting part, I think, is the last section. Surplus Value Marx begins Capital with an analysis of the commodity form. He immediately tells us why: because the commodity is … Continue reading

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Critique of Political Economy: C. Theories of the Medium of Circulation and Money – notes

C. Theories of the Medium of Circulation and MoneyAt the end of Chapter 1: Commodities we had “A:Notes on the History of the Theory of Value”. At the end of Chapter 2 part 1: The Measure of Value we had … Continue reading

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Critique of Political Economy Chapter 2 part 3 and 4- notes

3. Money In a text that is so obviously all about money it may seem funny to have the above section title here in the middle of the book. But up until now we have been considering money as a … Continue reading

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Critique of Political Economy. Chapter 2 part 2- notes

2. Medium of Circulation Interesting that Marx has discussed all of these properties of money as measure of value, unit of account and so on, without getting into circulation. Thus, in Marx’s system, money arises out of the nature of … Continue reading

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The Critique of Political Economy- Chapter 2 part 1 notes

the second installment of my notes on the book: Chapter 2: Money or Simple Circulation. Marx tells us that the confusion about money will disappear once we look at the evolution of money. Does he mean the historical evolution or … Continue reading

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