Building on the insights of Capital I, and dispatching common liberal misunderstandings of those insights, Claus Peter Ortlieb makes the case for what mainstream economists euphemistically call “secular stagnation”: that is, an economic crisis that cannot be resolved by economic means.

The relevance of Marx’s theory of value and his ‘law of the tendency of the rate of profit to fall’ to the analysis of the financial crisis of 2007–8 and the ensuing global slump is affirmed. The hypertrophic growth of unproductive constant capital, including the wages of ‘socially necessary’ unproductive labour and tax revenues, is identified as an important manifestation of an historical-structural crisis of capitalism, alongside the increasing weight of fictitious capital and the proliferation of fictitious (...) profits in the lead-up to the financial crisis. These phenomena have obscured the deepest roots of the global slump in the long-term profitability problems of productive capital – that is, in a crisis of surplus-value production. With these considerations taken into account, a better empirical assessment of trends in the composition of capital becomes possible, and with it a more accurate understanding of the impact of the ongoing displacement of living labour from production on the average rate of profit and the future of US and global capitalism. (shrink)

The global financial crisis, triggered by the subprime mortgage crisis in the USA, raises an important issue—namely, private production without the control of private property. The credit system has concentrated increasingly large social assets into the hands of financial institutions governed by a few people. This paper argues that the use of social capital for private production has played a key role in causing the subprime mortgage crisis. The credit and banking systems have abolished the private nature of (...) capital and have instead provided a basis for organizing and implementing social production. However, these systems have not “overcome the antithesis between the character of wealth as social and as private.” Therefore, it behooves us to explore what we can learn from the US financial crisis concerning how best to protect social interests, i.e., how to make the social capital produce for society. (shrink)

In cooperative game theory with transferable utilities, there are two well-established ways of redistributing Shapley value payoffs: using egalitarian Shapley values, and using consensus values. We present parallel characterizations of these classes of solutions. Together with the axioms that characterize the original Shapley value, those that specify the redistribution methods characterize the two classes of values. For the class of egalitarian Shapley values, we focus on redistributions in one-person unanimity games from two perspectives: allowing the worth of coalitions (...) to vary, while keeping the player set fixed; and allowing the player set to change, while keeping the worth of coalitions fixed. This class of values is characterized by efficiency, the balanced contributions property for equal contributors, weak covariance, a proportionately decreasing redistribution in one-person unanimity games, desirability, and null players in unanimity games. For the class of consensus values, we concentrate on redistributions in \documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$$$\end{document}-person unanimity games from the same two perspectives. This class of values is characterized by efficiency, the balanced contributions property for equal contributors to social surplus, complement weak covariance, a proportionately decreasing redistribution in \documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$$$\end{document}-person unanimity games, desirability, and null players in unanimity games. (shrink)

It is a commonplace in the philosophy of physics that any local physical theory can be represented using arbitrary coordinates, simply by using tensor calculus. On the other hand, the physics literature often claims that spinors \emph{as such} cannot be represented in coordinates in a curved space-time. These commonplaces are inconsistent. What general covariance means for theories with fermions, such as electrons, is thus unclear. In fact both commonplaces are wrong. Though it is not widely known, Ogievetsky and Polubarinov constructed (...) spinors in coordinates in 1965, enhancing the unity of physics and helping to spawn particle physicists' concept of nonlinear group representations. Roughly and locally, these spinors resemble the orthonormal basis or "tetrad" formalism in the symmetric gauge, but they are conceptually self-sufficient and more economical. The typical tetrad formalism is de-Ockhamized, with six extra field components and six compensating gauge symmetries to cancel them out. The Ogievetsky-Polubarinov formalism, by contrast, is Ockhamized, with most of the fluff removed. As developed nonperturbatively by Bilyalov, it admits any coordinates at a point, but "time" must be listed first. Here "time" is defined in terms of an eigenvalue problem involving the metric components and the matrix $diag$, the product of which must have no negative eigenvalues in order to yield a real symmetric square root that is a function of the metric. Thus even formal general covariance requires reconsideration; the atlas of admissible coordinate charts should be sensitive to the types and \emph{values} of the fields involved. Apart from coordinate order and the usual spinorial two-valuedness, Ogievetsky-Polubarinov spinors form, with the metric, a nonlinear geometric object, for which important results on Lie and covariant differentiation are recalled. Such spinors avoid a spurious absolute object in the Anderson-Friedman analysis of substantive general covariance. They also permit the gauge-invariant localization of the infinite-component gravitational energy in General Relativity. Density-weighted spinors exploit the conformal invariance of the massless Dirac equation to show that the volume element is absent. Thus instead of an arbitrary nonsingular matrix with 16 components, 6 of which are gauged away by a new local $O$ gauge group and one of which is irrelevant due to conformal covariance, one can, and presumably should, use density-weighted Ogievetsky-Polubarinov spinors coupled to the 9-component symmetric square root of the part of the metric that fixes null cones. Thus $\frac{7}{16}$ of the orthonormal basis is eliminated as surplus structure. Greater unity between spinors and tensors and the like is achieved, such as regarding conservation laws. Regarding the conventionality of simultaneity, an unusually wide range of $\epsilon$ values is admissible, but some extreme values are inadmissible. Standard simultaneity uniquely makes the spinor transformation law linear and independent of the metric, because transformations among the standard Cartesian coordinate systems fall within the conformal group, for which the spinor transformation law is linear. The surprising mildness of the restrictions on coordinate order as applied to the Schwarzschild solution is exhibited. (shrink)

The Meno problem, asking for the surplus value of knowledge beyond the value of true justified belief, was recently much treated within reliabilist and virtue epistemologies. The answers from formal epistemology, by contrast, are quite poor. This paper attempts to improve the score of formal epistemology by precisely explicating Timothy Williamson's suggestion that ‘present knowledge is less vulnerable than mere present true belief to rational undermining by future evidence’. It does so by combining Nozick's sensitivity analysis of (...) knowledge with Spohn's fact‐asserting epistemic interpretation of conditionals. Accordingly, the surplus value of knowledge lies in a specific kind of stability of knowledge, which differs, though, from that claimed by other so‐called stability analyses of knowledge. (shrink)

The famous Marxian ‘transformation problem’ originated from a research manuscript written by Marx in 1864/65, from which Engels assembledCapitaliii. Unequal capital compositions, equal rates of surplus-value and equal rates of profit among different sectors are posited, and reconciled using the problematic concept of ‘prices of production’. Yet the assumption of equal rates of surplus-value is at odds with the subsequent text ofCapitali, where Marx presents various determinants of the rate of surplus-value, and connects (...) productive powers of labour diverging between sectors with divergentvalue-generating potenciesof labour. Given the other determinants, diverging rates of surplus-value then result. Marx disregarded these productive power differentials when he originally formulated his transformation. In a reconstruction, building onCapitali, this omission is rectified. It makes prices of production and hence the dual account systems redundant. The transformation problem then evaporates. (shrink)

It is a commonplace in the philosophy of physics that any local physical theory can be represented using arbitrary coordinates, simply by using tensor calculus. On the other hand, the physics literature often claims that spinors \emph{as such} cannot be represented in coordinates in a curved space-time. These commonplaces are inconsistent. What general covariance means for theories with fermions, such as electrons, is thus unclear. In fact both commonplaces are wrong. Though it is not widely known, Ogievetsky and Polubarinov constructed (...) spinors in coordinates in 1965, enhancing the unity of physics and helping to spawn particle physicists' concept of nonlinear group representations. Roughly and locally, these spinors resemble the orthonormal basis or "tetrad" formalism in the symmetric gauge, but they are conceptually self-sufficient and more economical. The typical tetrad formalism is de-Ockhamized, with six extra field components and six compensating gauge symmetries to cancel them out. The Ogievetsky-Polubarinov formalism, by contrast, is Ockhamized, with most of the fluff removed. As developed nonperturbatively by Bilyalov, it admits any coordinates at a point, but "time" must be listed first. Here "time" is defined in terms of an eigenvalue problem involving the metric components and the matrix $diag$, the product of which must have no negative eigenvalues in order to yield a real symmetric square root that is a function of the metric. Thus even formal general covariance requires reconsideration; the atlas of admissible coordinate charts should be sensitive to the types and \emph{values} of the fields involved. Apart from coordinate order and the usual spinorial two-valuedness, Ogievetsky-Polubarinov spinors form, with the metric, a nonlinear geometric object, for which important results on Lie and covariant differentiation are recalled. Such spinors avoid a spurious absolute object in the Anderson-Friedman analysis of substantive general covariance. They also permit the gauge-invariant localization of the infinite-component gravitational energy in General Relativity. Density-weighted spinors exploit the conformal invariance of the massless Dirac equation to show that the volume element is absent. Thus instead of an arbitrary nonsingular matrix with 16 components, 6 of which are gauged away by a new local $O$ gauge group and one of which is irrelevant due to conformal covariance, one can, and presumably should, use density-weighted Ogievetsky-Polubarinov spinors coupled to the 9-component symmetric square root of the part of the metric that fixes null cones. Thus $\frac{7}{16}$ of the orthonormal basis is eliminated as surplus structure. Greater unity between spinors and tensors and the like is achieved, such as regarding conservation laws. Regarding the conventionality of simultaneity, an unusually wide range of $\epsilon$ values is admissible, but some extreme values are inadmissible. Standard simultaneity uniquely makes the spinor transformation law linear and independent of the metric, because transformations among the standard Cartesian coordinate systems fall within the conformal group, for which the spinor transformation law is linear. The surprising mildness of the restrictions on coordinate order as applied to the Schwarzschild solution is exhibited. (shrink)

It is a commonplace in the philosophy of physics that any local physical theory can be represented using arbitrary coordinates, simply by using tensor calculus. On the other hand, the physics literature often claims that spinors \emph{as such} cannot be represented in coordinates in a curved space-time. These commonplaces are inconsistent. What general covariance means for theories with fermions, such as electrons, is thus unclear. In fact both commonplaces are wrong. Though it is not widely known, Ogievetsky and Polubarinov constructed (...) spinors in coordinates in 1965, enhancing the unity of physics and helping to spawn particle physicists' concept of nonlinear group representations. Roughly and locally, these spinors resemble the orthonormal basis or "tetrad" formalism in the symmetric gauge, but they are conceptually self-sufficient and more economical. The typical tetrad formalism is de-Ockhamized, with six extra field components and six compensating gauge symmetries to cancel them out. The Ogievetsky-Polubarinov formalism, by contrast, is Ockhamized, with most of the fluff removed. As developed nonperturbatively by Bilyalov, it admits any coordinates at a point, but "time" must be listed first. Here "time" is defined in terms of an eigenvalue problem involving the metric components and the matrix $diag$, the product of which must have no negative eigenvalues in order to yield a real symmetric square root that is a function of the metric. Thus even formal general covariance requires reconsideration; the atlas of admissible coordinate charts should be sensitive to the types and \emph{values} of the fields involved. Apart from coordinate order and the usual spinorial two-valuedness, Ogievetsky-Polubarinov spinors form, with the metric, a nonlinear geometric object, for which important results on Lie and covariant differentiation are recalled. Such spinors avoid a spurious absolute object in the Anderson-Friedman analysis of substantive general covariance. They also permit the gauge-invariant localization of the infinite-component gravitational energy in General Relativity. Density-weighted spinors exploit the conformal invariance of the massless Dirac equation to show that the volume element is absent. Thus instead of an arbitrary nonsingular matrix with 16 components, 6 of which are gauged away by a new local $O$ gauge group and one of which is irrelevant due to conformal covariance, one can, and presumably should, use density-weighted Ogievetsky-Polubarinov spinors coupled to the 9-component symmetric square root of the part of the metric that fixes null cones. Thus $\frac{7}{16}$ of the orthonormal basis is eliminated as surplus structure. Greater unity between spinors and tensors and the like is achieved, such as regarding conservation laws. Regarding the conventionality of simultaneity, an unusually wide range of $\epsilon$ values is admissible, but some extreme values are inadmissible. Standard simultaneity uniquely makes the spinor transformation law linear and independent of the metric, because transformations among the standard Cartesian coordinate systems fall within the conformal group, for which the spinor transformation law is linear. The surprising mildness of the restrictions on coordinate order as applied to the Schwarzschild solution is exhibited. (shrink)

In the seminar XVI, D'un Autre à l'autre, in 1968/1969, Jacques Lacan claimed that there is an homology between the function of object a in the unconscious and the Marxian notion of surplus-value. Both concepts in fact revolve around similar axes: their reluctance to be localized in a certain place of the structure and their connection with the notion of surplus. In Chapter 7 of Das Kapital, Marx seems to imagine a purely mythical pre-capitalist society where (...) class='Hi'>production is only devoted the pure satisfaction of basic survival needs and where labour is still controlled by the worker according to a certain purpose: with the irruption of the surplus in the capitalist mode of production the very qualitative dimension of the production and reproduction of commodities and human beings is commanded and organized by the pure drive of abstract accumulation. In order to rearticulate the incessant capitalist drive for abstract wealth, the symptom relies on the unsurpassable contradiction between labour-power and living-labour: essential in order. (shrink)

Abstract.In Canada, food assistance is provided through a widespread network of extra-governmental, community-based, charitable programs, popularly termed “food banks”. Most of the food they distribute has been donated by food producers, processors, and retailers or collected through appeals to the public. Some industry donations are of market quality, but many donations are “surplus” food that cannot be retailed. Drawing on insights from an ethnographic study of food bank work in southern Ontario, we examined how the structure and function of (...) food banks operate to facilitate the distribution of foods not marketed through the retail system. Our findings indicate that the handling of industry donations of unsaleable products is a labor-intensive activity, made possible by the surfeit of unpaid labor in food banks, the neediness of food bank clients, and clients’ lack of rights in this system. The marshalling of volunteer labor to serve a corporate need might be construed as a “win-win” situation because the work of salvaging edible foodstuffs from among industry “surplus” helps to “feed the hungry” while also diminishing the amount of refuse deposited in landfill sites, sparing corporations disposal costs and landfill tipping fees, and helping them forge an image of good corporate citizenship. However, the reliance of food banks on industry donations means that food assistance becomes defined as that which the corporate sector cannot retail. Moreover, the intertwining of food bank work with corporate needs may function to further entrench this ad hoc secondary food system and mitigate against initiatives to develop more effective responses to problems of hunger and food insecurity in our communities. (shrink)

The principle of differential marginality (Casajus in Theory and Decis 71(2):163-–174) for cooperative games is a very appealing property that requires equal productivity differentials to translate into equal payoff differentials. In this paper we apply this property to axiomatic characterizations of values. We show that differential marginality implies additivity and symmetry under certain conditions. Based on this result, we propose new characterizations of the equal division and the equal surplus division values. Finally, we characterize two classes of convex combinations (...) of values, i.e., α\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\alpha$$\end{document}-egalitarian Shapley values and α\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\alpha$$\end{document}-equal surplus division values, by employing differential marginality and establishing the uniqueness of these values on inessential games. (shrink)

Prominent neo-Marxists have recently acknowledged longstanding criticisms of Marx's labor theory of value as at best a cumbersome and redundant price model but continue to variously defend the doctrine as an interpretation of historically observed class conflict between exploiters and exploited. This essay counters that value theory also fails badly as a "labor theory of exploitation." The fundamental flaw is the canonical premise that labor alone is productive, with normative implications closer to the entrepreneurial work ethic than to (...) socialist standards of distributive justice. The essay then identifies an alternative theory of exploitation implied by Marx's earlier writings on alienation but obscured by his later association of exploitation with surplus value. What capital appropriates is not "surplus value" produced by labor, but the capacity to produce it, creating asymmetric interdependence within the division of labor. Exploitation arises in the mediation of this interdependence through the exchange of commodities. (shrink)

The price of Bitcoin is once more soaring. From early October 2020 to early January 2021, the price of a single Bitcoin token went from roughly $10,000 to nearly $65,000, reinspiring the hopes of the crypto-faithful in the inevitability of a future beyond centralized banking and leaving the rest to dread the jargon of computational libertarianism. The speculative betting driving this recent price action, however, belies a more rudimentary and overlooked shift in the digital economy signaled by cryptocurrencies and Bitcoin (...) in particular. Unlike an earlier industrial logic that sought to reduce heat loss and improve efficiency to maximize surplus value, Bitcoin’s proof-of-work system shifts the basis of value production from efficiency to inefficiency. Moreover, it does so by using a cryptographic algorithm whose purpose is to destroy the meaning of its inputs. Through an exploration of Bitcoin’s proof-of-work technics and its inversion of traditional models of value extraction, the text argues that Bitcoin reveals a profound transformation in the nature of surplus represented by computational capitalism. (shrink)

This article views capitalism not only as a mode of production, but also as a mediation of the reproduction of life, following the concept of ‘social metabolism’ that Marx employs to analyze the interaction between the individuals composing a society and their natural environment. Insofar as the ‘value-form’ is the distinctive social relation of capitalism, it appears necessary to ask whether the metabolic process of reproduction can be fully subsumed under this form. Marx takes for granted the idea (...) that the reproduction of labor-power consists only in the consumption of commodities resulting from abstract labor, thus omitting the appropriation of unpaid domestic work, mostly performed by women. Feminist criticism clarifies how capitalism always depends on some reproductive work being appropriated for the accumulation of surplus-value without being integrated in the value-form. Following Jason W. Moore, I attempt to indicate that the same logic is at work for the reproduction... (shrink)

A further critique of Fine and Saad-Filho's reading of Marxist political economy: it neglects the monetary dimension of Marx's analysis; it focuses too much on production, and on the organic composition of capital, treated in isolation from the overall circuit of capital. An alternative theorisation is proposed, stressing what will now be called emergence patterns in Marx's value theory, and giving due weight to circulation, realisation, competition and capital allocation.

A major programme of irrigated rice extension in the Middle Senegal River Valley has further limited the river’s natural flooding in the floodplain (Waalo), initially reduced by drought. We conducted a transdisciplinary (TD) and gendered study in the region to explore links between agricultural biodiversity and family diets using a social analysis of women’s practices. The results showed how rice expansion impacts local agrobiodiversity, diet quality and the cultural way of life. Disappearance of the singular agropastoral and fishing system of (...) the Senegal River Valley is profoundly modifying the landscape, limiting wooded riverine settings, and is undermining the traditional diversified flood-recession cropping system in the Waalo. This is causing an overconsumption of rice by reducing alternative food sources, such as sorghum, vegetables and animal products (fish, milk and meat). In particular, flood-recession sorghums are in danger of disappearing, yet they are more nutritious than rice and now sell for twice as much, or more. The way of life is being disrupted, notably sociabilities previously based on territorial complementarities, and women are disadvantaged in terms of recognition and added workload. Women’s groups have launched collective irrigated gardens, organic or not, only supported by the local NGO, but any surplus is hardly ever sold on the weekly markets in the neighbourhood. Moreover, this diet imbalance increases nutritional risk factors for health, such as vitamin and iron deficiencies, especially for women, hypertension and diabetes. We argue that, firstly, gendered TD experiences are relevant for documenting women’s activities in order for them to gain political support and, secondly, that targeting women’s care tasks gives more value and impact to TD research results. (shrink)

Discussion surrounding Marx's distinction between productive and unproductive labor too often fails to distinguish between the various forms that unproductive labor may assume and is too hasty to subsume the income of workers "unproductively" employed by capital as a non-profit component of social surplus-value. Against this, it may be argued that many forms of unproductive labor are socially necessary to the social capital and are therefore properly viewed as systemic overhead costs. As such, they should be treated, in (...) value-theoretical terms, as elements of the constant capital flow. The implications of this approach are explored for crisis theory and the evolution of the class structure with particular reference to the Canadian experience in this century. (shrink)

In the first part of this two-part article, I argued that, unlike the asocial classical labour theory of value, Marx's labour theory of value is a ‘truly social’ one. In fact, it is a purely social one. Marx's theory of value is nothing but his theory of the social forms distinctive of the capitalist mode of production. Thus, we may speak of those forms as value-forms, the commodity, money, capital, wage-labour, surplus-value and its (...) forms of appearance, and more. The labour that produces value, then, is labour of a peculiar social sort. This thought is entirely foreign to the classical labour theory of value, and, likewise, to Marxist accounts of value theory that mistake it for a radical version of Ricardian value theory. The gulf between the classical and the Marxian labour theories of value is wide. (shrink)

This article aims to measure both the economic and social value of Tecnocampus, a Science and Technology Park in its region of influence. Our results show that the impact of Tecnocampus has a socioeconomic cost–benefit ratio of 2.39. Measuring the impact of this multifaceted centre requires a diverse approach. Although the methods used are not new, the combination of them presents a novel approach to measure the impact of an institution of this nature. We have measured the economic (...) class='Hi'>value with the Input–Output model, including the Social Accounting Matrix. On the other hand, for social value calculations, we have used cost–benefit analysis adding measurements of firm localisation to estimate externality effects. Our main results present an economic value of more than 0.054% of the Catalan GDP, whereas the employment impact represents almost 0.37% of total employment in the region. The total economic multiplier of Tecnocampus activity is estimated to be 1.89. Social value generates an additional 0.50 euros to the multiplier according with our analysis. This additional social value represents an increase of productivity estimated in 20 million euros of operational income for Catalan firms and the creation of seven additional firms in the Maresme region as a result of knowledge spillovers. The social value also includes reduction of over-education caused by a better matching between graduates and enterprises, a more direct application of research, and an increase in consumer surplus. Finally, we discuss the policy implications of our findings to promote investments in this kind of infrastructures. (shrink)

While, as Marx argued, periods of expanded accumulation present the best conditions for increasing working-class living standards, the expansion that began in 1982 was based in large part on the rapidfallin the value of labour-power in the US. This recovery and rapid rise in the rate of surplus-value in the US was enabled by the collapse of union-resistance beginning in 1979 and the strategic choices made by union-leaders across the economy from that time on. The expansion was (...) sustained in the 1980s by dramatic work-reorganisation, enabled by the embrace of labour-management cooperation-schemes by much of the trade-union leadership, and the restructuring of several major industries that undermined the industry-wide bargaining on which rising postwar incomes had been based. Productivity, boosted by lean production-methods, would continue to outstrip real wages up until the ‘Great Recession’ of 2008 and resume again in the wake of a weak recovery in the US. The rapid geographic expansion of capital after 1990 provided new investment-possibilities, as did the explosion of financial instruments. What stands out, however, is that rising productivity, far from providing the basis for increases in working-class income, had become coupled with flat or declining real wages and a fall in the value of labour-power as the necessary condition to sustain almost any level of growth in the real economy. The link between productivity and wage-increases, central to Keynesian and institutional collective-bargaining theory, had been broken and Marx’s idea of the most favourable conditions stood on its head. The breaking of this link had, in the final analysis, been an outcome of class-struggle in which capital had the upper hand. All of this underlines the failed strategies and practices of most of the trade-union leadership in the US since 1979. New approaches to the workplace and broader forms of mobilisation will be needed. Signs of worker-resistance to the latest neoliberal clampdowns in Latin America, Europe, China, and even the US, however, may point to a renewed era of intensified class-struggle. (shrink)

The critical concept of commodity fetishism and its developed forms of money and capital fetishism ground the contemporary shape of social life under the rule of capital. This chapter offers a novel interpretation based on Marx’s Capital, elucidating the oft-overlooked interconnection of the fetishism triptych that accounts for domination, as well as the normalisation of exploitation as experienced in capitalist life. In commodity fetishism, a market-based pseudo-social ‘thing-hood’ preponderates over commodity owners and producers, concealing the double inversion that constitutes the (...) ‘world of commodities’. Money’s fetish form makes it appear as the ‘sovereign’ of the commodity world, possessing the exclusive social power to establish the value hierarchy of all persons and objects relativised in regard to it. The universal condition of monetisation of the life process in bourgeois society necessitates the adoption of the competition principle, leading to the generalised formation of a commodity self, shaped by competitive individualism. The social separation of the great mass of commodity producers from the means of production and the consequent need to sell themselves as commodities in the form of wage labour constitutes the social basis of capital fetishism, through which the process of capital ‘valorisation’ is enfolded within the process of use value production, disappearing into its socio-material character and thus naturalised. Capital fetishism dissimulates the production of surplus value by social labour and constructs the harmonised appearance of an equitable contribution of ‘factors of production’ in the sharing of the surplus product, thereby obscuring distributional struggles over it. Such antagonisms over surplus undergird the logic of neoliberal capitalism’s two-pronged strategy, pursuing ‘deregulation of labour relations’ on the one hand and dismantling the welfare state on the other. (shrink)

This bookis about the roots of managerial rationality. A theoretical base, founded on the concept of 'memetics' is developed in order to explain human thinking and human reason as products of cultural evolution. Cultural change and development are explained by simple, value-driven memetic mechanisms like 'ritualization' and 'extremization'.

When we read Karl M&IX,S descriptions of the capitalist mode of production in Capital amd other writings, all our instincts tell us that these are descriptions of an unjust social system. Marx describes a. society in which one small class of persons lives in comfort and idleness while another class, in ever-increasing numbers, lives in want and vvrctchedncss, laboring to produce thc Wealth enjoyed by the fixst. Marx speaks constantly of capitalist "exploitation" of the worker, and refers to the (...) creation of surplus value as the appropriation of his "unpaid 1abor" by capital. Not 0nly docs capitalist society, as Marx describes it, strike us as unjust, but his own descriptions of it themselves seem to connote injustice. When we look in the writings of Marx and Engels for a detailed account 0f the injustices of capitalism, however, We discover at once that not only is there no attempt at all in their writings to provide an argument that capitalism is unjust, but there is not even the explicit claim that capitalism is unjust 01* incquitablc, 01* that it violatcs anyonds rights. We find, in fact, explicit denunciations and sustained criticisms of social thinkers (such as Pierre P:roudhon and Ferdinand Lassalle) who did condemn capitalism for its injustices or advocated some form of socialism as a. means of securing justice, equality, or the rights of man. We even find, perhaps to our surprise, some faixly explicit statements to the effect that capitalism, with all its manifold defects, cannot be faultcd as far as justice is concerned. Whatever else capitalism may be for Marx, it docs not seem that it is unjust. (shrink)

The meeting of Deleuze and Guattari in 1969 is generally used to explain how the former's thought became politicised under the influence of the latter. This narrative, however useful it might be in explaining Deleuze's move away from the domain of academic philosophy following the upheavals of May 1968, has had the effect of de-emphasising the conceptual development which occurred between Difference and Repetition and Anti-Oedipus. Worst of all, it has had the effect of reducing the role of Marx's philosophy (...) to the superficial level of political alibi, impoverishing our understanding of its importance with respect to the conceptual assemblage of Anti-Oedipus. This paper attempts to restore Marx's relevance to Deleuze and Guattari's project by understanding Anti-Oedipus through the Marxian categories of production, distribution, surplus-value and consumption, and argues for a conception of schizoanalysis which does not relegate the name of Marx to the garbage heap of poststructuralist intellectual strategy. (shrink)

Based on a historical study of fee regulation in the employment agency business, the claim that temporary help agencies charge “no fees” to workers is challenged. It is found that the claim rests on technical changes in the statutory definitions of fee and employment agency won through industry lobbying efforts, changes that simply mask traditional fee-charging methods. The article traces the evolution of fee-charging practices in the post-World War II period and points to a new version of “fee splitting” as (...) a prevalent wage setting practice in the staffing industry. The implications of these developments for wage depression and income redistribution are explored. (shrink)

This work focuses exclusively on the modern economic aspects of imperialism. We define it as a persistent and long-term net appropriation of surplus value by the high-technology imperialist countries from the low-technology dominated countries. This process is placed within the secular tendential fall in profitability, not only in the imperialist countries but also in the dominated ones. We identify four channels through which surplus value flows to the imperialist countries: currency seigniorage; income flows from capital investments; (...) unequal exchange through trade; and changes in exchange rates. We pay particular attention to the theorisation and quantification of international UE and of exchange-rate movements. Concerning UE, we extend Marx’s transformation procedure to the international setting. We use two variables in the analysis of UE: the organic composition of capital and the rate of exploitation, and we measure which of these two variables is more important in contributing to UE transfers. We research a time span longer than in any previous study. We also introduce the distinction between narrow and broad unequal exchange according to whether two countries are assumed to trade only with each other or also with the rest of the world. As for the analysis of the exchange rates as a channel for appropriation of international surplus value, we reject conventional approaches because they are rooted in equilibrium theory. We find very strong empirical evidence that exchange rates tend towards the point at which the productivities are equalised. This is only a tendency because this equalisation is inherently incompatible with the nature of imperialism. Finally, given its topicality, we apply our analysis to the relation between the US and China and find that China is not an imperialist country according to our definition and data. (shrink)

Alan Wood's claim that ‘Marx did not consider capitalism unjust’ is based on three reasons: 1) According to Marx, the conceptions of justice is the highest expression of the rationality of social facts from the juridical point of view; 2) Marx argues that whether an economic trade or social institution is a just one depends on its compatibility with modes of production; 3) according to Marx, possession of surplus value by the capitalists does not include unequal or (...) unjust trades. Wood presents these three reasons in detail and provides specific referential support for them. This paper argues that Wood fails to provide sufficient referential support to his proposition and his interpretation of the relevant texts is mistaken, and hence that Wood’s claim is invalid. (shrink)

This book provides an analytical understanding of some of Tagore’s most contested and celebrated works and ideas. It reflects on his critique of nationalism, aesthetic worldview, and the idea of ‘surplus in man’ underlying his life and works. It discusses the creative notion of surplus that stands not for ‘profit’ or ‘value’, but for celebrating human beings’ continuous quest for reaching out beyond one’s limits. It highlights, among other themes, how the idea of being ‘Indian’ involves stages (...) of evolution through a complex matrix of ideals, values and actions—cultural, historical, literary and ideological. Examining the notion of the ‘universal’, contemporary scholars come together in this volume to show how ‘surplus in man’ is generated over the life of concrete particulars through creativity. The work brings forth a social scientific account of Tagore’s thoughts and critically reconstructs many of his epochal ideas. Lucid in analysis and bolstered with historical reflection, this book will be a major intervention in understanding Tagore’s works and its relevance for the contemporary human and social sciences. It will interest scholars and researchers of philosophy, literature and cultural studies. (shrink)

We show that compactness is preserved by arbitrary direct products of lattices of truth values and that the Löwenheim-Skolem property is preserved by finite direct products of lattices of truth values.

Marx conceives of capitalism as a production mode based on the exploitation of labour-power, whose productive consumption in the labour process is considered as the main source of value creation. Capitalists seek to obscure and secure workers’ contribution to the production process, whereas workers strive to have their contribution fully recognized. The struggle between capitalists and workers over labour-time is thus central to capital’s valorization process. Hence, capital–labour antagonism is structured over the capture and exploitation of unpaid (...) labour-time. Building on Marx’s labour value theory, as well as on some of its contemporary interpretations, I call this struggle over labour-time capture a process of ‘invisibilization’ of labour. I claim that this invisibilization process is still a relevant form of surplus-value extraction in contemporary capitalism, especially in the platform economy, characterized by remote but pervasive control by algorithms. The rediscovery of this form of surplus-value extraction and its manifestation in platform labour is the main contribution of this study. To corroborate this contribution, I compare the case of platform labour with that of textile-clothing, where value production is more clearly based on the classical forms of surplus-value extraction (i.e., absolute and relative). This comparison helps to cast a new light on the nexus between work-process transformations and surplus-value creation, which is the core of the Marxian labour theory of value, and which – I argue – is crucial to understanding contemporary capitalist developments. (shrink)

The terms ‘left’ and ‘right’ cannot describe two extremes of a single ideological dimension. Instead, a bi-dimensional model including socio-cultural and socio-economic facets of leftism/rightism is postulated. Several studies conducted in the USA and Western Europe show a relative coherence of left-wing and right-wing orientation regarding both dimensions, whereas very diverse patterns can be found in the countries of Eastern Europe. In Poland cultural and economic leftism-rightism seem to be clearly negatively related. The general hypothesis in this paper claims that (...) such ideological inconsistency is a product of coherence at the level of preferences for values, i.e. covariance within individualistic as well as within collectivist values. Based on a survey study conducted on a representative sample of Poles, it was shown that preferences for values made up two distinct dimensions: Openness to change vs Conservation, and Self-enhancement vs Self-transcendence. They are positively related but have fundamentally different relationships with political self-identification and ideology. (shrink)

This book is the first complete commentary on Marx's manuscripts of 1861-63, works that guide our understanding of fundamental concepts such as 'surplus-value' and 'production price'. The recent publication of Marx's writings in their entirety has been a seminal event in Marxian scholarship. The hitherto unknown second draft of Volume 1 and first draft of Volume 3 of Capital, both published in the Manuscripts of 1861-63, now provide an important intermediate link between the Grundrisse and the final (...) published editions of Capital. In this book, Enrique Dussel, one of the most original Marxist philosophers in the world today, provides an authoritative and detailed commentary on the manuscripts of 1861-63. The main points which Dussel emphasises in this path-breaking work are: The fundamental category in Marx's theory is 'living labour' which exists outside of capital and which capital must subsume in order to produce surplus-value Theories of Surplus Value is not a historical survey of previous theories, but rather a 'critical confrontation' through which Marx developed new categories for his own theory The most important new categories developed in this manuscript are related to the 'forms of appearance' of surplus value. The final part of the book discusses the relevance of the Manuscripts of 1861-63 to contemporary global capitalism, especially to the continuing underdevelopment and extreme poverty of Latin America. (shrink)

As the younger generation, who like to pursue novelty and excitement, becomes the main consumer and the traditional consumption culture changes in China, the blind box has become a popular product among young people with its uncertain characteristics. Previous studies have mainly explored the role of uncertainty in promotion, while this paper focuses on the role of uncertainty in daily sales of blind box products. Based on the stimulus–organism–response theory, this paper conducted an online questionnaire survey and an empirical analysis (...) in China, which examined the mechanism of the positive impact of uncertainty and the moderating effect of consumption purpose. The results show that uncertainty affects consumers’ purchase intention mainly through affecting their emotional value, which is one dimension of perceived value; consumer purpose also moderates the effect of uncertainty on perceived value, and the effect of perceived value on purchase intention. The results of this study are not only of great significance for understanding the uncertain marketing and blind box products, but also have management implications for enterprises to make use of the uncertain marketing. (shrink)

The rural/metropolitan/wilderness hybrid central to urban shrinkage directly challenges a commonly held belief that a city consists of a dense concentration of people living in a limited geographical area, one where the primary means of production is non-agricultural. In addition, the urban condition of shrinkage tests the dominant current of growth management that has guided urban design, development, and land use. In this essay we will explore how this hybrid presents an alternative to the production and realization of (...) surplus value that predominates throughout the contemporary landscape of neoliberal planetary urbanization. It will be argued that this process of urbanization is premised upon modalities of urban commoning, or practices that bring a variety of social and environmental struggles into relationship with each other, dismantling the apparatuses of capture that bring land-use and the collective energies animating available land under the control of capital. (shrink)

In the history of biology, knowledge about human differences often has been produced through an interaction with politics and values assumed to be external to science. Two recent books—Jonathan Marks’ Is Science Racist? and Maurizio Meloni’s Political Biology—shed new light on this interplay. While Marks looks into the field of anthropology, Meloni offers a historiographical view on the soft-hard heredity debate. Based on these new contributions, this essay addresses a number of current ways in which society and science conceptualize human (...) differences through categories like race, gender, and class. Especially, this refers to the separation of what is taken as natural and purportedly fixed, from what is cultural and changeable. (shrink)

The concept of co-production was originally introduced by political science to explain citizen participation in the provision of public goods. The concept was quickly adopted in business research targeting the question how users could be voluntarily integrated into industrial production settings to improve the development of goods and services on an honorary basis. With the emergence of the Social Software and web-based colla-borative infrastructures the concept of co-production gains importance as a theoretical framework for the collaborative (...) class='Hi'>production of web content and services. This article argues that co-production is a powerful concept, which helps to explain the emergence of user generated content and the partial transformation of orthodox business models in the content industries. Applying the concept of co-production to developmental policies could help to theorize and derive new models of including underprivileged user groups and communi-ties in collaborative value creation on the web for the mutual benefit of service providers and users. (shrink)

This slim volume by an Austrian Marxist attempts two major types of correction to contemporary Marxism. One is an historical correction which seeks to restore what was originally present in the basic vision of Marx and Engels. The other is an innovative correction which seeks to revise the historical doctrine in the face of new conditions which contradict its original conclusions or premisses. The historical correction is the restoration of the human element as the crucial factor in the law of (...) motion of society. Without the human element, there are only tendencies in the movement of history. The human element adds direction--converts a tendency into a specific direction. Previous social movements were spontaneous, but the leap from capitalism to socialism absolutely requires the conscious activity of man. The revisionist correction is two-pronged, but its necessity arises from the same consideration of how to effect the move from capitalism to socialism. The capitalist model has not acted in accordance with Marx's conception of the absolute or relative impoverishment of the working class. Social distribution of surplus value in the industrial powers of the western world has been sufficient to develop a materially satisfied working class. The appeal to the working class, therefore, has to change to a new stress on culture, democracy and, above all, morality. At the same time, the economic arena must not be abandoned. The concept of structural reform, advanced by the late Palmiro Togliatti, should be supported. This means that the working class should join in capitalist planning to avoid depression; that it should insist on a larger role in the operation of the plants and in their relations to the financial and political institutions; and that it should struggle for nationalizing measures which take the decisive means of production out of the hands of the big capitalists. Structural reform could hardly be expected to bring on revolution, but it does move the working class forward toward the decisive content of the socialist revolution, which for Marek is the socialization of the means of production. It thereby tends to heighten the class consciousness which Marek considers vital. This book represents an effort to restore coherence to Marxism by confrontation with historical reality. The failure of the effort does not render it futile, especially as a more extensive attempt by the author is evidently already in preparation. Students of Marxism who do not accept the theoretical exposition of the present volume will still find it useful as a reference for rarely quoted statements by leading Marxists, beginning with Marx himself.--H. B. (shrink)