Marxists on Money, Value and Labour-Power: A Response
AbstractBy adopting a monetary approach with no reference to any substratum of value substance preexisting monetary exchange, the key to capitalism's form-determined interconnectedness is revealed. The concrete existence of the value-form is in money--in a ll its contingent physical manifestations. Valorization is founded in t he peculiarities of the wage relation, such that labor-power is not a commodity but a universal capacity created outside the capitalist labor-process and, therefore, potentially the sole necessary factor of valorization. This potential is grounded in successful entrepreneuri al behavior, ensuring that value-added is not exhausted by labor costs. Copyright 1992 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 16 (1992)
Issue (Month): 4 (December)
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