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Fetishism of Money, Capital, Interest-Bearing Capital and Commodities

In: Fetishism and the Theory of Value

Author

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  • Desmond McNeill

    (University of Oslo)

Abstract

I suggest that in order to comprehend commodity fetishism it is helpful to begin by analysing the fetishism of money, capital and interest-bearing capital. I therefore draw on a selection of quotations from Marx’s writings, mainly from Capital Volume III and Theories of Surplus Value. With commodity fetishism, Marx asserts that relations between producers appear ‘as what they really are, material relations between persons and social relations between things’ (my stress). This contrasts with the self-serving mystification of ‘higher’ forms of fetishism, most notably expressed in the Trinity Formula, which leads me to distinguish my position from that of Analytical Marxists, most notably Cohen.

Suggested Citation

  • Desmond McNeill, 2021. "Fetishism of Money, Capital, Interest-Bearing Capital and Commodities," Palgrave Studies in the History of Economic Thought, in: Fetishism and the Theory of Value, edition 1, chapter 5, pages 59-75, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-030-56123-9_5
    DOI: 10.1007/978-3-030-56123-9_5
    as

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