Capital , Volume I, Chapter One
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Transcript of Capital , Volume I, Chapter One
CapitalCapital, Volume I, Chapter One, Volume I, Chapter One
Labor Theory of Value
Structure of the ChapterStructure of the Chapter
Section 1: The Substance of Value Section 2: The Measure of Value Section 3: The Form of Value
Section 4: Fetishism
Sec. 1: The Substance of ValueSec. 1: The Substance of Value
Flow of the Argument:
From commodity exchange
(A exchanges for B)
to
Abstract Labor
(What they have in common)
““Dialectical” FlowDialectical” Flow
In Hegel:– being? = nothing (becoming)
In Marx– exchange? = abstract labor (money form)
Why “labor”?– At heart of capitalist social relations– Saw in Part VIII on Primitive Accumulation
Why “Abstract” Labor?Why “Abstract” Labor?
Labor abstracted from specificityDefined without regard to type of concrete,
“useful labor” (technical term) “Labor” as a general notionHistorically specific concept
– before capitalism there was no “labor”– with capitalism all activity becomes “labor”
““Labor” = “Work”Labor” = “Work”
Engels differentiated the twoLabor = work in capitalismWork = the more general conceptBut, if there is no general concept of work
outside of capitalism, then there is no difference
““Abstraction” of abstract laborAbstraction” of abstract labor
concept is abstracted from concrete, useful labor
concept designates common social meaning: social control
concept denotes process/tendency toward abstractness, i.e.,deskilling of work
Sec.2: Measure of ValueSec.2: Measure of Value
Ques: How do you measure “useful labor”?Ans: by the time it takesQues: How do you measure “abstract
labor”?Ans: by the social time it takesMeasure of value = SNLT
= socially necessary labor time
Measure and ProductivityMeasure and Productivity
Productivity = output per unit of input, or
= output per hour of workDoubling productivity = 2X product for
same work time (individual or social) Same work time = same useful labor time,
same abstract labor time So, 2X productivity = 1/2 SNLT per unit
Sec. 3: The Form of ValueSec. 3: The Form of Value
The Simple FormThe Expanded FormThe General FormThe Money Form
The Simple FormThe Simple Form
xA = yB
A, B = randomly exchanged commodities x, y = quantifiers “=” sign means “is worth” primary focus is on the qualitative
characteristics of this relationship
The Relative FormThe Relative Form
In the expression xA = yB xA is said to have the “relative form”of
value “Relative form” = the value of A is
expressed “relative” to B “B” can be any commodity, so whatever it
is, the value of A is being expressed relative to that commodity
The Equivalent FormThe Equivalent Form
In the expression xA = yB yB is said to have the “equivalent form” of
value “Equivalent form” = a use-value B is the
expression of A’s valueWe exchange A for B, we look at B and we
say, “Ah! this B is the equivalent of the A we traded away!”
ContradictionContradiction
In the relationship xA = yB, A and B are in a particular kind of relationship Each is the opposite of the other, one has its
value expressed, the other does the expressing Their meaning is inseparable from the relation We call this a “contradiction” (opposition + unity)
In Pt.VIII we saw that the “class” relationship involved such a contradiction
Contradiction & Class - 1Contradiction & Class - 1
Working Class & Capital are like xA = yBWithin capitalism, working class is defined
and takes its meaning from its exchange with capital
Labor market: x(work) = y(income)
Contradiction & Class - 2Contradiction & Class - 2
Workers in “relative form”Workers’s “value” gets expressed in
relationship, e.g., what you are worth is given by your wage
Capital in “equivalent form”Capital’s “equivalent” (wage, income)
expresses this value
Contradiction & Class - 3Contradiction & Class - 3
Yet, the relationship is NOT balancedWorkers can be (and were) people without
capital, outside of wage, etc.Capital can only be capital with people as
its workers So, people can rebel/escape, capital cannotHere is the potential for revolution
Reflexive MediationReflexive Mediation
In xA = yB, B mediates A’s relationship to itself
A discovers its own value through BB is like a mirror In a mirror we see one aspect of ourselves:
our visible light imagesA discovers one aspect of itself: its “value”
Reflexive Mediation & ClassReflexive Mediation & Class
Capital mediates people’s relationship to themselves
They see themselves as as mere “workers” e.g., John Barton - Mill Worker (WC in-itself)
e.g., John Barton - Unionist (WC for-itself)BUT, they can see other aspects of
themselvs outside of this relationship e.g., Job Legh - naturalist
Reflexive Mediation & SchoolReflexive Mediation & School
School mediates students’ relationship to themselves
They see themselves as mere “students” e.g., vis à vis the teacher
e.g., vis à vis the administrationGrade defines “kind” of student e.g., “this is a ‘B’ student Some “students” rebel at this narrow definition
Reflexive Mediation & RelationshipsReflexive Mediation & Relationships
Child - ParentBoyfriend - GirlfriendWife - HusbandAll involve reflexive mediation, BUT People ARE multidimensional People NEED multiple mirrors So, all these relationships, if isolated, can
lead to insanity or rebellion
Child - ParentChild - Parent
Early on: – child identifies with parent, relationship is
enough of a definition of self– parent identifies self as parent
Later: – child must find new mirrors, break free of
single source of self-defintion– Same for parents! Hardest for house-wife-
mother.
Boyfriend - Girlfriend Boyfriend - Girlfriend Wife - HusbandWife - Husband
Early On: – Intense focus on the other as VERY favorable
mirror of self, reciprocal mirroring
Later On: – 1. People’s lives are multidimensionable and
intense focus can’t be sustained– 2. People must find multiple mirrors
Deficiency of Simple FormDeficiency of Simple Form
Equivalent form B is discreet, accidental “Value” expressed by product of a
particular useful laborBUT, the nature of value is universal So, there is a contradiction between the
universal substance of value (abstract labor) and its particular expression in the simple form of value
The Expanded FormThe Expanded Form
xA = yB
= zC
= nNExpanded relative form of valueLimitation of equivalent form is overcomeEquivalent form consists of ALL other
commodities and thus no longer particularThis form is “totalizing”, infinite
TotalizationTotalization
Expanded form is “totalizing” because every commodity that exists can represent the value of any one commodity
Capital seeks this totalization– seeks to convert all of life into commodities– seeks to impose work on everyone– seeks to impose a “master narrative” on world
Infinity - 1Infinity - 1
The expanded form is infinite in the sense that there is no limit to expanding world of commodities, “nN” goes to infinity
Capital has this quality of endless expansion– through space (colonialism, imperialism, SciFi)– through time (“end of history”)– through all of reality (commodification of the
cosmos, galactic work-machine)
Infinity - 2Infinity - 2
However, the infinity of the expanded form is a “bad” infinity, in the Hegelian sense
The expression of value is not unified; it is a mosaic of differentiated expressions
This contradicts the unitary nature of valueA unique substance should have a unique
expression
The General FormThe General Form
yB = xA
zC = xA
nN = xA In the general form the value of each and
every commodity has a common, unique expression.
The equivalent form is universal “A” is the “universal equivalent”
Good InfinityGood Infinity
The General Form is infinite just like expanded form: expands endlessly
BUT, this is a “good” infinity because it is not just a list of discrete expressions
Rather, it is a unified expression of a unitary substance, common to all
Universal equivalent mediates everthing
Syllogistic Mediation - 1Syllogistic Mediation - 1
yB = xA
zC = xA
nN = xA yB is related to zC only through xA two things mediated by a third is called
“syllogistic mediation”
Syllogistic Mediation - 2Syllogistic Mediation - 2
Aristotelian syllogism:– Caesar is a man– All men are mortal– Therefore: Caesar is mortal
Caesar the Individual is related to the Universal trait of mortality through his Particular characteristic of being a man (I-P-U)
Syllogistic Mediation - 3Syllogistic Mediation - 3
Hegel’s Interest: Syll. = form of movementElements: (U)niversal, (P)articular, &
(I)ndividual In a fully developed syllogistic form all
elements are mediated in their relationships I-P-U, P-U-I, U-I-P
Syllogistic Mediation & Class-1Syllogistic Mediation & Class-1
Working class in-itself defined by capitalWorking class in-itself is a “serial group”Capital seeks to mediate among workers
– pays some a wage, some not– pays some more, some less– divides by job, plant, industry– divides to control
Syllogistic Mediation & Class-2Syllogistic Mediation & Class-2
Worker (W) - (I)ndividaulCapital (K) - (U)niversalUnion -(P)articularW - K - U (right to work laws)But also: K - W - U (K uses scabs)
: W - U - K (U mediates W vs K)Rupture: wildcat strikes bypass U
Syllogistic Mediation & SchoolSyllogistic Mediation & School
Elements: (S)tudents, (P)rofessors, (A)dministration
S - P - A (profs impose rules, absorb anger) P - S - A (admin uses student evaluations) S - A - P (profs use admin against students)
Rupture: S bypass P and attack A
Syllogistic Mediation & Syllogistic Mediation & RelationshipsRelationships
Elements: men (M),women (W) & capital (K)M - K - W (marriage, sodomy, divorce laws)
K - M - W (K uses M to control W)K - W - M (K uses W to control M)
Rupture: Women’s movement bypasses M to attack capital directly, eg. welfare
The Money Form - 1The Money Form - 1
yB = xAu
zC = xAu
nN = xAuAu = gold, moneyOnly difference from general form is that
universal equivalent is determined by social custom, structures of power
The Money Form - 2The Money Form - 2
Includes all previous formsHas all their characteristics
– contradiction (unity & opposition)– reflexive mediation (money shows value)– totalizing (money value displaces all others)– infinite (endless expansion, common link)– syllogistic mediation (everything is mediated
by money), eg., yB - xAu - zC, or C - M - C
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