A Companion To Marx's Capital by David Harvey

By David Harvey

The unconventional geographer publications us throughout the vintage textual content of political economy.

“My target is to get you to learn a booklet by means of Karl Marx referred to as Capital, quantity 1, and to learn it on Marx’s personal terms…”

The greatest monetary predicament because the nice melancholy has generated a surge of curiosity in Marx’s paintings within the attempt to appreciate the origins of our present obstacle. for almost 40 years, David Harvey has written and lectured on Capital, turning into one of many world’s such a lot optimal Marx students.

Based on his contemporary lectures, this present quantity goals to deliver this intensity of studying to a broader viewers, guiding first-time readers via a desirable and deeply lucrative textual content. A better half to Marx’s Capital bargains clean, unique and infrequently severe interpretations of a publication that modified the process historical past and, as Harvey intimates, may perhaps achieve this back.

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A particular labor process embodies useful concrete labor and abstract labor or value (socially necessary labor-time) in a commodity that will be the bearer of exchange value in the market place. The answer to the problem of how skilled or «complex" labor can be reduced to simple labor partially lies, it turns out, in the next section, where Marx follows the commodity into the marketplace and takes up the relation between value and exchange-value. So let us move on to section 3. Section 3: The Value Form, or Exchange-Value This section incorporates, in my view, a lot of boring material that can all too easily mask the significance of the argument being made.

Simply in the fact that the commodity reflects the social characteristics of men's own labour as objective characteristics of the products of labour themselves, as the socio-natural properties of these things. (164-5) The problem is that "the commodity-form, and the value-relation of the products of labour withiri which it appears, have absolutely no connection with the physical nature of the commodity and the material . . relations arising out of this:' Our sensuous experience of the commodity as use-value has nothing to do with its value.

But in order for the labor to be socially necessary, somebody somewhere must want, need or desire the commodity, which means that use-values have to be reintegrated into the argument. In the analysis that follows, these three concepts of use-value, exchange-value and value are kept in a perpetual and sometimes tense relationship with one another. Marx rarely takes any one of these concepts in isolation, it is the relations between them that matter. He does, however, frequently examine the relationship between just two of them while holding the third tacitly to one side.

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