This paper critically examines I.I. Rubin's Essays on Marx's Theory of Value and argues that two different approaches to value theory can be found in that book: a more 'production-centred' value-form theory uneasily co-exists with a 'circulationist' perspective. This unresolved tension, the authors claim, reflects a more general theoretical shortcoming in Rubin's work, namely, a problematic conceptualisation of the inner connection between materiality and social form that eventually leads to a formalist perspective on the value-form. Furthermore, the paper argues that (...) all those antinomies are an expression of the historical and political context underlying Rubin's work, in which Marxism was being codified as state ideology. The political implications of Rubin's formalism are explored through the critical examination of its consequences for the comprehension of the social determinations of the revolutionary subjectivity of the working class. (shrink)

In a step-by-step progression through Marx's three volume work, discovers a systematic theory of socio-economic categories ordered according to the dialectical logic derived from Hegel.

As soon as he had observed labour to be ‘first of all, a process between man and nature', Marx turned to conscious determination. ‘Man not only affects a change of form in the materials of nature, he also realises his own purpose in these materials. And this is a purpose he is conscious of. It is purpose which distinguishes labour from the activities of animals. Marx called the purposive character of labour ‘an exclusively human characteristic’ and the term indicates its (...) fundamental importance in his thought. As it is purposive activity, so labour is ‘a specific productive activity appropriate to its purpose, a productive activity that assimilate[s] particular natural materials to a particular human requirement'.3 Since ends are specific by definition, this has to be the case, and neither absence of skill nor indifference effect the issue one way or the other. Work does not cease to be particular because it demands no special capacities - tightening screws and stacking shelves do not stop being different kinds of activity by virtue of the fact that anyone can perform them; or because no store its set by its distinctive qualities. In its accounts, capital may treat different kinds of labour uniformly as a cost of production, but this does not alter the fact that the labour it employs comprises different types of labour: ‘the fact that the production of use-values or goods is carried on under the control of a capitalist and on his behalf does not alter the general character of that production'.4 In which case, we ask, what is labour which is not particular? If labour is always and necessarily a specific productive activity, what is abstract labour — ‘homogenous labour’ which, by definition, is not specific? (shrink)

To make abstractions hold good in actuality means to destroy actuality.

To make abstractions hold good in actuality means to destroy actuality.

Chris Arthur's approach aims at a systematic re-ordering of Marx's categories. This article argues that his approach is actually a different ordering of different categories that are positioned within a specific theoretical whole, a Hegelian re-interpretation of Marx and especially of abstract labour, which distances itself from Marx. While the debate has focused mainly on the philosophical aspects of Arthur's work, its economic features have not been the object of a systematic analysis. Yet, a full assessment of the 'New Dialectics' (...) should include explicitly a systematic internal critique of its economic dimensions. The aim of this article is to assess the internal consistency of the economic ramifications of the 'New Dialectics'. The focus is on the notions of abstract labour, concrete labour, and exploitation. Arthur's faithfulness to Marx, or correspondence to Marx's quotations, is not the criterion used to assess the 'New Dialectics'. Rather, the criterion is whether it discovers logical inconsistencies in Capital and is itself free from inconsistencies. The answer is negative in both cases. (shrink)

It has often been pointed out that the Marxian theory of value contains some inconsistencies, usually in relation to the concept of abstract labour. However, the contradiction between the concept of labour and the concept of validity with which Marx operates in Capital has never been discussed. A detailed analysis shows that this concept of validity refers to the process of abstraction which is carried out by the participants of the exchange process. Only the rigorous comprehension of this process of (...) abstraction can illuminate that for which the concept of abstract labour was developed: the unity and universality of value. On this basis, the paper criticises the Marxian development of the money-form and presents an alternative approach that builds on the aforementioned concept of validity. This concept is formulated in more depth by recourse to the works of Hegel, Simmel and Adorno. Furthermore, the paper reconsiders the dialectical development of categories in the light of this alternative conception of the money-form as totality and abstraction. Finally, the distinction between simple circulation and the process as a whole is explored and it is argued that, according to the novel reading proposed, it acquires a fundamental significance. (shrink)

The last 10 or 15 years have witnessed a renewed interest in Marx's dialectical method and its implications for value theory. However, most works have not sufficiently thematized the peculiar role of the phase of analysis in Marx's dialectical investigation generally and in his presentation in particular. Furthermore, they have not paid sufficient attention to the specific form of the analytical process within dialectical thought, which distinguishes it from the kind of analysis characteristic of formal-logical methodologies. Those two questions are (...) crucial for a proper comprehension of the dialectical structure of Marx's argument in Chapter 1 of Capital and, in particular, to clarify the determinate place where the unfolding of the explanation of the determinations of privately performed abstract labor as the substance of value is to be found. That explanation is actually contained in section 3, where Marx presents the synthetic development of the expression of value into the money-form. (shrink)

This paper discusses some recent developments in the Marxian theory of value, called value-form theory, which have gone along with a methodological shift from a linear logic and historical dialectics to a dialectical logic and systematic dialectics. In order to appreciate these developments within the Marxian paradigm, it is useful to make two introductory remarks: first, on some peculiarities of Marxian discourse and, second, about discrepancies in Marx's Capital.