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Money, Labour and Logic: A Critical Comparison

Listed author(s):
  • Freeman, Alan

This is a prepublication version of ‘Money, Labor, and Logic: A critical comparison’, published in Critique of Political Economy. Please cite as Freeman, A. 2011. ‘Money, Labor, and Logic: A critical comparison’, Critique of Political Economy No. 1. 152-175. The article seeks to promote a scholarly debate between the temporal single-system interpretation of Marx and the Value-Form school. Since they both recognize the standards required of constructive debate and seek a proper understanding of Marx’s actual theory, such a debate promises to be productive. Michael Heinrich’s argument, representative of the Value-Form school, is that Marx’s derivation of abstract labor, value, and money is “ambivalent” and should be replaced by superior derivations of these categories. I argue that the Value-Form school’s proposed replacements exhibit a tendency to eliminate contradiction from value theory. In particular, the idea that the labor in a commodity is abstract only after the commodity is sold gives rise to a quietist tendency. It confuses successful sale with the formation of a price. This stems from an ambivalence attitude towards general equilibrium theory, leading to an underestimation of the devastating effect of von Bortkiewicz’s rewriting of Marx.

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File URL: https://mpra.ub.uni-muenchen.de/48625/1/MPRA_paper_48625.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 48625.

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Date of creation: Nov 2007
Date of revision: 08 Aug 2011
Publication status: Published in Critique of Political Economy 1 (2011): pp. 152-175
Handle: RePEc:pra:mprapa:48625
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  1. Kliman, Andrew & Freeman, Alan, 2006. "Replicating Marx: a Reply to Mohun," MPRA Paper 6890, University Library of Munich, Germany.
  2. Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
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