Equivalence, commensurability, value: Three arguments of commensurability in the beginning of Capital and their impact on 150 years of Marxist (critique of) political economy

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Abstract

Deriving value in Capital Marx uses three commensurability arguments (CA1-3). CA1 establishes equivalence in exchange as exchangeability with the same third commodity. CA2 establishes value as common denominator in commodities: embodied abstract labour. CA3 establishes value substance as commonality of labour: physiological labour. Tensions between these logics have permeated Marxist interpretations of value. Some have supported value as embodied labour (CA2, 3), others a monetary theory of value and value as ‘pure’ societal abstraction (ultimately CA1). They all are grounded in Marx.
Translated title of the contributionÆkvivalens, kommensurabilitet, værdi: Tre kommensurabilitetsargumenter i Kapitalens begyndelse og indvirkningen på 150 års marxistisk (kritik af) politisk økonomi
Original languageEnglish
Publication date23 Oct 2017
Number of pages15
Publication statusPublished - 23 Oct 2017
Event65th annual conference of the Japan Society of Political Economy Capital (150 years)・Imperialism (100 years) and the Critique of Capitalism - Chuo University, Tokyo, Japan
Duration: 28 Oct 201729 Oct 2017
Conference number: 65

Conference

Conference65th annual conference of the Japan Society of Political Economy Capital (150 years)・Imperialism (100 years) and the Critique of Capitalism
Number65
LocationChuo University
Country/TerritoryJapan
CityTokyo
Period28/10/201729/10/2017

Keywords

  • value theory
  • equivalence
  • commensurability

Artistic research

  • No

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