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Proponents of a monetary interpretation of Marx’s theory of value (monetäre Werttheorie) argue that one cannot estimate the amounts of socially necessary labour time that lie behind the prices, an interpretation usually ascribed to the West German Neue Marx‑Lektüre. As Hans-Georg Backhaus began fleshing out his monetary interpretation in the early 1970s, he referred explicitly to debate among economists in early‑1960s East Germany about the possibility of estimating quantities of labour value in terms of commodities’ labour content. In fact, scholars (...) |
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This article reconstructs and defends Theodor Adorno’s social theory by motivating the central role of abstract domination within it. Whereas critics such as Axel Honneth have charged Adorno with adhering to a reductive model of personal domination, I argue that the latter rather understands domination as a structural and de-individualized feature of capitalist society. If Adorno’s social theory is to be explanatory, however, it must account for the source of the abstractions that dominate modern individuals and, in particular, that of (...) |
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Fine and Saad-Filho are wrong to insist that an abstract category of production should be the starting point of Marxist value-theory in logical, temporal and causal terms. Marx, in Capital, begins with a repertoire of simpler categories and slowly constructs the complex category of capitalist production. It is vital that exploitation should be seen as one phase of a process of capital-in-motion, and due weight given to money, competition and realisation. |
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This article uses Marx’s idea of commodity fetishism and subsequent theories of reification to understand the social construction of race. Race is typically defined as a socially-constituted category that is mischaracterised as a natural one. The goal of this article, in contrast, is to explain how this mischaracterisation arises. In addition to this main objective, the article uses this explanation of race to contest recent attempts that locate the ‘persistent entanglement’ of race and capital in their functional relationship. Finally, the (...) |
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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 (...) |
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This article considers Theodor W. Adorno’s thesis of the ‘liquidation of the individual’ as a contribution to the critique of political economy insofar as it links structural economic imperatives o... No categories |
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Following the publication of my book The New Dialectic and Marx's 'Capital', and the symposium on it in Historical Materialism 13.2, a critique by Roberto Finelli recently appeared: 'Abstraction versus Contradiction: Observations on Chris Arthur's The New Dialectic and Marx's “Capital”' in Historical Materialism 15.2. Finelli argues that my systematic dialectic is not taken sufficiently far, in that I retain presuppositions not posited by the capitalist totality. Here, I argue against Finelli's closed totality of wholly abstract forms, not least because (...) |
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