
Lecture 2 - Value and Anti-Value
Marx and Capital: The Concept, The Book, The History (audio)
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Industrial Capitalism and Debt as Anti-Value
How does debt arise? And what is its role within a capitalist mode of production? Consider the case of long-term fixed capital investments. Capitalists hang out for purchase of machines which are relevant in all life. Coded capital is, as we've seen earlier, debt capital, and devalued capital. Anti-value is the form of negated capital that cumulates annually until enough has been saved to purchase a new machine when the time tries.
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