The Real Movement

Communism is free time and nothing else!

Tag: Shaikh and Tonak

Schrödinger’s Capital: FYI, Marx NEVER said labor creates value

NOTE 15: Some labor creates value

So, here is the problem with Heinrich saying we don’t need proof for Marx’s propositions: Not all labor creates a product that contains value.

Think of it this way: According to Arthur, money is simply use value with no labor value whatsoever, just like all other commodities. According to the value-form school, it is the physical material of money that gives all other commodities their value, by serving as the form of value, the value-form, the money-form. Commodities, says Arthur, are the product of concrete useful labor, not abstract labor. It is not until these commodities are exchange for the value-form, that they are reduced to values.

In the value-form argument, commodities do not have a social property of value prior to exchange; they remain simply incommensurable use values — objects that cannot be compared as values, because they are of completely different qualities. Thus, before exchange, we cannot say 10 apples equal one hoe because the usefulness of apples cannot be quantitatively compared to the usefulness of hoes. Somehow, the exchange of the objects for the value-form strips the commodities of their useful qualities and reduce them to abstract labor values. Read the rest of this entry »

Schrödinger’s Capital: Michael Heinrich explains why Marxists don’t have to prove anything

NOTE 14: Proof is for real sciences, not labor theory?

What sort of science is this that Marxists believe in? According to Michael Heinrich:

“Tied up with the question concerning the difference between Marx’s value theory and classical value theory is the question of whether Marx had “proven” the labor theory of value, that is, whether he had established beyond the shadow of a doubt that labor and nothing else underlies the value of a commodity. This question has been frequently discussed in the literature about Marx. But as we’re about to see, Marx was not at all interested in such a “proof [value lies behind prices].”

That statement is from Michael Heinrich’s Introduction to the three volumes of Capital, chapter 3, section 2, and it is just astonishing.

To understand the flaw in Heinrich’s reasoning, remove Marx and insert Einstein: “Einstein was not at all interested in such a proof of the existence of space-time relativity.”

Or, remove Marx and insert Darwin: “Darwin was not at all interested in such a proof of evolution.”

Would physicists or biologists accept this argument from Heinrich? Why would anyone who calls herself a Marxist? We are discussing the whole underlying structure of a modern capitalist economy, but we don’t require proof for that structure? We can just wing it until we get to extremely complex questions like the transformation problem or whether there is a law of the tendency for the rate of profit to fall, where, all of a sudden, proof value is behind prices and profits is demanded?

And Marxists wonder why no one takes them seriously.

Read the rest of this entry »