This article explores Adorno’s negative dialectics as a critical social theory of economic objectivity. It rejects the conventional view that Adorno does not offer a critique of the economic forms of capitalist society. The article holds that negative dialectics is a dialectics of the social world in the form of the economic object, one that is governed by the movement of economic quantities, that is, real economic abstractions. Negative dialectics refuses to accept the constituted economic categories as categories of economic (...) nature. Instead, the article argues, it amounts to a conceptualized social praxis [ begriffene Praxis] of the capitalistically constituted social relations, which manifest themselves in the form of seemingly independent economic categories. Economic nature is a socially constituted nature, which entails the class antagonism in its concept. The article concludes that for negative dialectics the explanation of real economic abstractions lies in the understanding of the class-divided nature of human practice. (shrink)

Against the background of the contemporary debate about financialisation, the paper conceptualises the capitalist labour economy as fundamentally a monetary system. It argues that money is not a capitalist means of organising its labour economy but that it is rather a capitalist end. The argument examines and finds wanting conceptions of money in political economy, including Keynesianism and neoliberalism, and argues that the debate about financialisation is fundamentally based on the propositions of political economy. It holds that Marx’s critique of (...) political economy conceives of money as the form of value and expounds money-making as the purpose of the capital labour economy. Thus, the labour theory of value is fundamentally a monetary theory of value, labour is the means of valorisation, and that is, of money in process, and as such capital. Making money out of money is capital as its most rational. In the form of credit, money posits wealth as a claim on future surplus value. (shrink)

This article considers Theodor W. Adorno’s thesis of the ‘liquidation of the individual’ as a contribution to the critique of political economy insofar as it links structural economic imperatives o...

This paper critiques the purposes to which Marx’s Fragment on Machines is put in postoperaist thought. I suggest postoperaist readings wield influence on contemporary left thinking, via postcapitalism, accelerationism and ‘Fully Automated Luxury Communism’. Changes in labour lead proponents to posit a crisis of measurability and an incipient communism. I use the New Reading of Marx and Open Marxism to dispute this. Based on an analysis of value as a social form undergirded in antagonistic social relations, I argue the Fragment’s (...) prognosis runs contrary to Marx’s critique of political economy when the latter is taken as a critical theory of society. This theoretical claim bears implications for contemporary left political praxis. (shrink)