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

Research output: Contribution to conferencePaperResearchpeer-review

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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.
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
CountryJapan
CityTokyo
Period28/10/201729/10/2017

Keywords

  • value theory
  • equivalence
  • commensurability

Artistic research

  • No

Cite this

Albertsen, N. (2017). Equivalence, commensurability, value: Three arguments of commensurability in the beginning of Capital and their impact on 150 years of Marxist (critique of) political economy. Paper presented at 65th annual conference of the Japan Society of Political Economy Capital (150 years)・Imperialism (100 years) and the Critique of Capitalism, Tokyo, Japan.
Albertsen, Niels. / Equivalence, commensurability, value : Three arguments of commensurability in the beginning of Capital and their impact on 150 years of Marxist (critique of) political economy. Paper presented at 65th annual conference of the Japan Society of Political Economy Capital (150 years)・Imperialism (100 years) and the Critique of Capitalism, Tokyo, Japan.15 p.
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Equivalence, commensurability, value : Three arguments of commensurability in the beginning of Capital and their impact on 150 years of Marxist (critique of) political economy. / Albertsen, Niels.

2017. Paper presented at 65th annual conference of the Japan Society of Political Economy Capital (150 years)・Imperialism (100 years) and the Critique of Capitalism, Tokyo, Japan.

Research output: Contribution to conferencePaperResearchpeer-review

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Albertsen N. Equivalence, commensurability, value: Three arguments of commensurability in the beginning of Capital and their impact on 150 years of Marxist (critique of) political economy. 2017. Paper presented at 65th annual conference of the Japan Society of Political Economy Capital (150 years)・Imperialism (100 years) and the Critique of Capitalism, Tokyo, Japan.