In this new book, David Harvey seeks to determine what is meant by the term in its different contexts and to identify how accurate and useful it is as a description of contemporary experience.

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)

First published in 2000, Dipesh Chakrabarty's influential Provincializing Europe addresses the mythical figure of Europe that is often taken to be the original site of modernity in many histories of capitalist transition in non-Western countries. This imaginary Europe, Dipesh Chakrabarty argues, is built into the social sciences. The very idea of historicizing carries with it some peculiarly European assumptions about disenchanted space, secular time, and sovereignty. Measured against such mythical standards, capitalist transition in the third world has often seemed either (...) incomplete or lacking. Provincializing Europe proposes that every case of transition to capitalism is a case of translation as well--a translation of existing worlds and their thought--categories into the categories and self-understandings of capitalist modernity. Now featuring a new preface in which Chakrabarty responds to his critics, this book globalizes European thought by exploring how it may be renewed both for and from the margins. (shrink)