The nature of money
... ‘commodity’. Obviously, since the demise of precious metal currencies and standards of value, it is no longer argued that money need consist of a material with an ‘intrinsic’ exchange value. But for modern economic theory, money is a commodity in the sense that it can be understood, like any other c ...
... ‘commodity’. Obviously, since the demise of precious metal currencies and standards of value, it is no longer argued that money need consist of a material with an ‘intrinsic’ exchange value. But for modern economic theory, money is a commodity in the sense that it can be understood, like any other c ...
Marx`s Theory of the Money Commodity
... Marx’s theory of money is not a conventional commodity theory of money. True, for money as a unit of acount or measure of value, he argues the need for a commodity standard, the value of which is determined by the costs of production. However, he defines the commodity in a unique way; the commodity ...
... Marx’s theory of money is not a conventional commodity theory of money. True, for money as a unit of acount or measure of value, he argues the need for a commodity standard, the value of which is determined by the costs of production. However, he defines the commodity in a unique way; the commodity ...
Beyond the 2008 Financial “Crisis”
... Do either readings account for a general logic of capital or cultural economic systems, or, as suggested here, do they each stand at the portal of a more complex, differentiated equation of value itself? Both examine value figurations, yet both appear to then assert new distractive ideological regim ...
... Do either readings account for a general logic of capital or cultural economic systems, or, as suggested here, do they each stand at the portal of a more complex, differentiated equation of value itself? Both examine value figurations, yet both appear to then assert new distractive ideological regim ...
Louis Althusser and the Forms of Concealment of Capitalist
... Our view, commencing rather from Rancière’s analysis, incorporates the concept of fetishism into the theory of ideology and does not reject it as an idealistic construction. This, precisely, is how it succeeds in identifying the actual idealism that pervades many of the anthropological readings of t ...
... Our view, commencing rather from Rancière’s analysis, incorporates the concept of fetishism into the theory of ideology and does not reject it as an idealistic construction. This, precisely, is how it succeeds in identifying the actual idealism that pervades many of the anthropological readings of t ...
ARCHIVE: MARX, CLASSICAL POLITICAL ECONOMY AND THE
... strictly to the law of value, i . e . equal amounts of labour time always exchange for equal amounts of labour time : this principle also applies to exchange relations between workers and employers . However, for Marx it is quite evident that there is no exchange of equivalents between worker and em ...
... strictly to the law of value, i . e . equal amounts of labour time always exchange for equal amounts of labour time : this principle also applies to exchange relations between workers and employers . However, for Marx it is quite evident that there is no exchange of equivalents between worker and em ...
The `Marginal Revolution` in Economics against the Labour Theory
... Distribution, 1889”] (cf. Marx’s “falling rate of profit”) has to be countered. Employers do it through the absolute and relative lengthening of the working day and constant technological development, constant centralization with big capitals swallowing the smaller ones, and concentration via measu ...
... Distribution, 1889”] (cf. Marx’s “falling rate of profit”) has to be countered. Employers do it through the absolute and relative lengthening of the working day and constant technological development, constant centralization with big capitals swallowing the smaller ones, and concentration via measu ...
Chapter 7 - Karl Marx
... The dialectical process is NOT driven by abstract forces, but rather by material conditions, and particularly by economic factors Hegel's historical process rests on the idea that new ideas cause us to change the way we live (our thoughts change, and the world changes in ...
... The dialectical process is NOT driven by abstract forces, but rather by material conditions, and particularly by economic factors Hegel's historical process rests on the idea that new ideas cause us to change the way we live (our thoughts change, and the world changes in ...
Marxist economics MARXISM IS COMPLICATED by the fact that
... How does capitalism work? How are workers exploited? Where does profit come from? How are slumps caused? In order to answer these questions, we first need to learn the key to the mystery: what is value? Having solved this problem, the other answers fall into place. An understanding of value is essen ...
... How does capitalism work? How are workers exploited? Where does profit come from? How are slumps caused? In order to answer these questions, we first need to learn the key to the mystery: what is value? Having solved this problem, the other answers fall into place. An understanding of value is essen ...
Tugan-Baranovsky, Mikhail Ivanovich (1865–1919)
... of the state and of serfdom, and the subsequent growth of market-orientated industries based on free labour (though some workers were serfs on quit-rent, a few of whom became serf millionaires). He also made stimulating observations concerning ‘natural’ and ‘artificial’ industrialization, relevant t ...
... of the state and of serfdom, and the subsequent growth of market-orientated industries based on free labour (though some workers were serfs on quit-rent, a few of whom became serf millionaires). He also made stimulating observations concerning ‘natural’ and ‘artificial’ industrialization, relevant t ...
John Milios
... Marx attacked the ‘classical’ notion of labour as the ‘substance’ of value as early as 1859. Where classical political economy believed that it was giving a conclusive answer – qualitatively different use values are rendered economically commensurate because they are all products of labour – Marx si ...
... Marx attacked the ‘classical’ notion of labour as the ‘substance’ of value as early as 1859. Where classical political economy believed that it was giving a conclusive answer – qualitatively different use values are rendered economically commensurate because they are all products of labour – Marx si ...