[Marxism] What is the Purpose of Marx's Value Theory?

Shane Mage shmage at pipeline.com
Sun May 12 14:20:06 MDT 2013

On May 12, 2013, at 3:44 PM, Angelus Novus wrote:
> "The next task is to examine Marx's theory of value within the  
> context of his theory of commodity fetishism, since, as Rubin points  
> out, "The theory of fetishism is, per se, the basis of Marx's entire  
> economic system, and in particular of his theory of value" (Rubin,  
> p. 5 )...

Which, of course, is why Marx sets out the basic theory of value  
before the chapter on commodity-fetishism.  Amusing to see how this  
"Soviet economist" who so fetishizes fetishism falls into a heap of it:

  Thus in Volume III of Capital, Marx says that "the capitalist is  
merely capital personified and functions in the process of production  
solely as the agent of capital''(50) and thus Rubin speaks of the  
''personification of things" (Rubin, Chapter 3).

For him capital consists of "things," for Marx capital is a social  
relationship of production and to treat it as a "thing" is the  
ultimate fetishism.

But what else can you expect? The Stalinist economic system had a  
category of "capital" but allowed it to consist only of *things.* For  
a "Soviet economist" to say that those "things" were media for  
exploitation of the waged workers employed to operate them was a sure  
way to earn a long stay in an "unwaged" Siberian resort.

  Shane Mage
"Thunderbolt steers all things." Herakleitos of Ephesos, fr. 64

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