Reading Capital With Comrades #2: VALUE (Ch. 1)
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Apr 26, 2021 Dive into the intricate world of commodities as explored through Marx's lens. Discover the fascinating concepts of use-value and exchange-value, revealing their complex interdependence. The discussion critiques bourgeois notions of autonomy, uncovering the social relations embedded in commodity exchange. Get insights into the fetishism of commodities and how it shapes human desires. Lastly, glimpse Marx's vision of a collective future, emphasizing solidarity over profit in the face of capitalism's contradictions.
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Historical Context
- Marx's work is best understood within its historical context, including the ideas of his contemporaries like Ricardo and Proudhon.
- Ricardo had a labor theory of value but didn't differentiate between price and value and didn't consider socially necessary labor time.
Twofold Nature of Commodities
- Commodities have a twofold nature: use-value (qualitative usefulness) and exchange-value (quantitative exchangeability).
- Use-value is realized through consumption and isn't directly related to labor time, while exchange-value is dynamic and relative.
Value and Socially Necessary Labor Time
- Exchange-value requires a common element between commodities, which isn't a physical property but an abstraction: value.
- Value is determined by socially necessary labor time, the average time needed to produce a commodity under normal conditions.
