Dialectical materialism was born in 1857, when Marx returned to studying Hegel. In opposition to Hegel, Marx adopted a realist epistemology. Abandoning the pragmatist ambiguities of his Economic?Philosophical Manuscripts, he became a materialist in the traditional sense of that word. Influenced by Hegel, Marx simultaneously attempted a dialectical proof for the labor theory of value. Abandoning his positivist critique in The Holy Family, he started using dialectic to discover beneath appearances an otherwise inaccessible reality. But his dialectic was incompatible with (...) his materialism. The identification of reality with Praxis, rejected at the level of philosophical statement, was retained at the level of economic argument. Turning Hegel upside down proved harder than Marx thought. (shrink)

Carver's interpretation of Marx's value theory (Terrell Carver, ?Marx's Commodity Fetishism?, Inquiry, Vol. 18 [1975]) is accepted, but his rejection of it criticized by explicating the reasons Marx gives for his theory after his faulty analysis of exchange-value at the very beginning of Capital. The central concept of abstract labour is shown to relate commodity exchange to other forms of distribution; by being compared to these the function of commodity exchange is recognized as the attachment of an amount of abstract (...) labour to a commodity, and exchange-value as that which determines that amount What it means to say value is thought to inhere in commodities is explicated. (shrink)