This book presents the main economic argument developed by Marx in the three volumes of Capital in a coherent and comprehensive manner. It also delves into three long-standing debates in Marxist political economy: the transformation problem, the Okishio theorem, and theories of exploitation and oppression. Starting with discussions of methodology, including dialectics and historical materialism, the book explains key concepts of Marxist political economy: commodity, value, money, capital, reserve army of labour, accumulation of capital, circuit of (...) class='Hi'>capital, reproduction schemas, prices of production, profit, interest and rent. Scholars of economics, sociology, geography, political science, anthropology, and other kindred disciplines, will find here an accessible yet rigorous treatment of Marxist political economy. (shrink)

The last several decades have produced a slew of important studies by Marxists of the logic of capital, as well as numerous explorations by postcolonial theorists of the narratives that structure racial and ethnic discrimination. Far too often, however, these two currents have assumed different or even opposed trajectories, making it all the harder to transcend one-sided class-reductionist analyses and equally one-sided affirmations of identity that bypass or ignore class. In light of the new reality produced by the (...) deepening crisis of neoliberalism and the looming disintegration of the political order that has defined global capitalism since the end of the Cold War, the time has come to revisit theoretical approaches that can help delineate the integrality of race, class and capitalism. (shrink)

In a step-by-step progression through Marx's three volume work, discovers a systematic theory of socio-economic categories ordered according to the dialectical logic derived from Hegel.

Taking an eco-socialist perspective, _The Ecological Crisis and the Logic of Capital_ explores the logic of capitalism as a fundamental cause of today’s environmental crisis, in particular the thirst for profit and the capitalist mode of production.

We are now observing a most notable anniversary: a century and a half since the birth of Karl Marx, the great founder of Marxist theory and the ideologist of the proletariat. Our present meeting virtually coincides with another date of great significance. The first thousand copies of Marx's immortal Capital appeared in Hamburg a hundred years ago, in September 1867. No other book has exercised as deep-going and ever-widening an influence on various aspects of the mental and practical activity (...) of men as this great work of theory. The influence of Capital on methodological thought, too, has been exceptionally great. It is precisely through the prism of the ideas of this classical piece of writing that the methodological and logical notions contained in the prior and subsequent writings of Marx and Engels can be understood most completely and employed to build a theory of knowledge. Capital is of immense significance to the further development of dialectical logic in our own day and for working out cardinal problems of epistemology. Emphasizing the exceptional significance to philosophy and logic of Marx's principal scientific work, Lenin wrote: "If Marx did not leave us a Logic, he did leave us the logic of Capital, something that should be utilized to the full in the matter at hand.". (shrink)

We are now observing a most notable anniversary: a century and a half since the birth of Karl Marx, the great founder of Marxist theory and the ideologist of the proletariat. Our present meeting virtually coincides with another date of great significance. The first thousand copies of Marx's immortal Capital appeared in Hamburg a hundred years ago, in September 1867. No other book has exercised as deep-going and ever-widening an influence on various aspects of the mental and practical activity (...) of men as this great work of theory. The influence of Capital on methodological thought, too, has been exceptionally great. It is precisely through the prism of the ideas of this classical piece of writing that the methodological and logical notions contained in the prior and subsequent writings of Marx and Engels can be understood most completely and employed to build a theory of knowledge. Capital is of immense significance to the further development of dialectical logic in our own day and for working out cardinal problems of epistemology. Emphasizing the exceptional significance to philosophy and logic of Marx's principal scientific work, Lenin wrote: "If Marx did not leave us a Logic, he did leave us the logic of Capital, something that should be utilized to the full in the matter at hand.". (shrink)

Smith reads Marx's Capital as "a systematic theory of economic categories constructed according to a dialectical logic". He argues that the influence of Hegel's Logic on the architectonic plan of Capital is "the one central area that has yet to be explored adequately" in the oft-tilled field of Hegel's influence on Marx.

This book attempts to articulate the role of Hegelian dialectical logic in Marx’s Capital and to defend Marx against certain Hegelian critics, most notably Klaus Hartmann, who has systematically criticized Marx’s theory of capitalism, and Richard Winfield. According to Smith, the role of dialectical logic in Marx’s Capital has been underappreciated and little explored, which deals throughout with Marx’s use of Hegel’s dialectical logic in the critique of political economy). Moreover, Smith is concerned with establishing (...) why Marx “needed” to employ dialectical logic and the full extent of the Hegelian legacy here. We are told, initially, that dialectical logic was important for Marx in order to establish his categories of reflection, to develop his theory of fetishism, to present strong claims of necessity, and to ground revolutionary politics. These issues are addressed at various places in the book. (shrink)

This book attempts to articulate the role of Hegelian dialectical logic in Marx’s Capital and to defend Marx against certain Hegelian critics, most notably Klaus Hartmann, who has systematically criticized Marx’s theory of capitalism, and Richard Winfield. According to Smith, the role of dialectical logic in Marx’s Capital has been underappreciated and little explored, which deals throughout with Marx’s use of Hegel’s dialectical logic in the critique of political economy). Moreover, Smith is concerned with establishing (...) why Marx “needed” to employ dialectical logic and the full extent of the Hegelian legacy here. We are told, initially, that dialectical logic was important for Marx in order to establish his categories of reflection, to develop his theory of fetishism, to present strong claims of necessity, and to ground revolutionary politics. These issues are addressed at various places in the book. (shrink)

The Hegelian dialectic, which goes beyond analytics based on formal logic, constitutes an essential component of Marxian thought. Yet a simple and straightforward introduction to the subject is hard to come by, due especially to confusion over the issue of materialism versus idealism. The following is a methodological primer in the dialectic of capital, a Marxian economic theory dialectically stated. Just as Hegel's "logic coincided with metaphysics," Marx's "coincides with economics.".

Despite his longstanding silence regarding Marx’s Capital, I wish here to argue that Badiou has in fact, in the three volumes of Being and Event, produced the materials for a contemporary logic of the capitalist social form. He has done so, however, in the form of an arsenal of abstract concepts that have yet to be precisely measured against Marx’s critical and formal reproduction of capitalism, the systematic exposition of which consumes the three volumes of Capital. I (...) first argue that Badiou’s general disinterest in the logic of capitalism and Marx’s Capital specifically takes on a strongly symptomatic, spectral presence in the 1994-1995 seminar Lacan: Anti-philosophy 3. Secondly, while it is true that Badiou’s Logics of Worlds never discusses the logic of appearance that governs all capitalist things, it is possible nonetheless to read Logics as an abstract translation and formalisation of Marx’s Capital. In this view, Capital should quite simply be read as a systematic demonstration of the logic of what Marx calls the capitalist social form, which is to say, in Badiou’s jargon, the logic or science of the appearance of things in the capitalist world. In a sense, then, this means nothing more, though nothing less, than subjecting the Logics of Worlds to a Marxian torsion: in order to demonstrate that which Badiou has neglected, Marx has in fact already accomplished, i.e. the systematic, synthetic demonstration of the necessary forms of the appearance of commodities in the capitalist social form. (shrink)

Although climate change has become the dominant concern of the twenty-first century, global powers refuse to implement the changes necessary to reverse these trends. Instead, they have neoliberalized nature and climate change politics and discourse, and there are indications of a more virulent strain of capital accumulation on the horizon. Adrian Parr calls attention to the problematic socioeconomic conditions of neoliberal capitalism underpinning the world's environmental challenges, and she argues that, until we grasp the implications of neoliberalism's interference in (...) climate change talks and policy, humanity is on track to an irreversible crisis. Parr not only exposes the global failure to produce equitable political options for environmental regulation, but she also breaks down the dominant political paradigms hindering the discovery of viable alternatives. She highlights the neoliberalization of nature in the development of green technologies, land use, dietary habits, reproductive practices, consumption patterns, design strategies, and media. She dismisses the notion that the free market can solve debilitating environmental degradation and climate change as nothing more than a political ghost emptied of its collective aspirations. Decrying what she perceives as a failure of the human imagination and an impoverishment of political institutions, Parr ruminates on the nature of change and existence in the absence of a future. The sustainability movement, she contends, must engage more aggressively with the logic and cultural manifestations of consumer economics to take hold of a more transformative politics. If the economically powerful continue to monopolize the meaning of environmental change, she warns, new and more promising collective solutions will fail to take root. (shrink)

Although climate change has become the dominant concern of the twenty-first century, global powers refuse to implement the changes necessary to reverse these trends. Instead, they have neoliberalized nature and climate change politics and discourse, and there are indications of a more virulent strain of capital accumulation on the horizon. Adrian Parr calls attention to the problematic socioeconomic conditions of neoliberal capitalism underpinning the world's environmental challenges, and she argues that, until we grasp the implications of neoliberalism's interference in (...) climate change talks and policy, humanity is on track to an irreversible crisis. Parr not only exposes the global failure to produce equitable political options for environmental regulation, but she also breaks down the dominant political paradigms hindering the discovery of viable alternatives. She highlights the neoliberalization of nature in the development of green technologies, land use, dietary habits, reproductive practices, consumption patterns, design strategies, and media. She dismisses the notion that the free market can solve debilitating environmental degradation and climate change as nothing more than a political ghost emptied of its collective aspirations. Decrying what she perceives as a failure of the human imagination and an impoverishment of political institutions, Parr ruminates on the nature of change and existence in the absence of a future. The sustainability movement, she contends, must engage more aggressively with the logic and cultural manifestations of consumer economics to take hold of a more transformative politics. If the economically powerful continue to monopolize the meaning of environmental change, she warns, new and more promising collective solutions will fail to take root. (shrink)

What are the consequences of the tendency for ubiquitous online reputation calculation to lead not to more precise expressions of reputation capital but, rather, to greater reputational instability? This article contrasts two conceptions of online reputation, which enact opposing attitudes about the relation between reputation and the calculable. According to an early online reputation paradigm – reputation capital – users strove to achieve high scores, performing the presumption that reputation could be incrementally accumulated and consistently measured within relatively (...) stable spheres of value. Yet, ubiquitous calculation led not to more precise measurements of reputation, but rather to the increasing volatility of online reputation. Thus, a second online reputation paradigm – reputation warfare – has become increasingly prevalent, in which strategic actors indirectly capitalize on systemic volatility produced by reputation’s ubiquitous online calculation. Steve Bannon’s 2016 Trump campaign strategy, which mobilized trolls, exemplifies the indirect optimization of online reputation, placing an option on reputational volatility. (shrink)

Building on Pietz’s speculation about the construction of a “history of the fetish’ that might be related to, yet stand apart from the fetish as a historical construct, this paper asks if there might be novel yet unmarked contemporary fetish-formations. Taking the later chapters of Pietz’s volume, which focuses on capital and techno-political infrastructures, this essay suggests that non-fungible tokens, or “NFTs,” might be thought of as failed fetishes, objects that work to occlude the material infrastructure that supports blockchain, (...) yet do not cohere because due to contemporary technology, they lack the sensuous materiality required by Pietz’s phenomenologically-shaped understanding of Marxism. Regardless of the correctness of this speculative claim about NFTs, this discussion suggests that Pietz’s original, groundbreaking argument on the fetish still has relevance to, and a great deal of creative promise for, analysis in the current day. (shrink)

The debate around labour power, and particularly regarding its status as the ‘most peculiar’ of commodities, has been widely revisited in contemporary Marxist thought and critical theory. This concept, which has often resurfaced in works by Negri, Spivak, Virno and numerous other contemporary thinkers, has a long prehistory in the work of Marx and subsequent Marxist theorists, perhaps most importantly in the work of Uno Kōzō, arguably the most influential and widely known Marxist thinker in modern Japan. Uno’s work, and (...) particularly his major theoretical works of the 1950s, developed an entirelogicalanalysis of the peculiar position of the labour-power commodity within capital’s drive, noting that this site marks the place wherein capital’slogical interiorand itshistorical exteriorinterpenetrate each other, generating a volatile force of excess at the core of capital’s supposedly smooth and pure circuit-process. By developing around this point an extensive theoretical discussion of its dynamics ofimpossibilityorirrationality, centred on a term –muri– that he raises to the level of a concept, Uno formulates a series of original theses in methodology, on the concept of population, and particularly around the figures of thelogicaland thehistoricalin the critical analysis of capitalism. Focusing in particular on this ‘impossibility’ ormurithat is nevertheless constantly ‘passing through’ the capital-relation, this essay investigates the entire range of Uno’s analysis, revealing not only a crucial thread of theoretical inquiry that remains contemporary for us today, but also another set of possibilities linking the critique of political economy to the renewal of revolutionary politics. (shrink)

The 2007+ crisis led to an increase in occasional and task work, which unleashed the potential of new technological and organizational solutions. The advancements in digital technological platforms stimulated the growth of the segment referred to as gig economy. The article aims to apply a systematic approach to the driving forces behind the emergence of gig economy and its success to date and to assess its development prospects. It argues to confirm the thesis that gig economy has its own inherent (...) logic, while it remains part of the multi-stage process of the evolution of employee-employer relations, from the industrial stage to the digital era to platform-mediated work. Based on the analysis of the current world literature, the article posits that gig economy, as the next stage of development, has significantly reduced the quality of work, but it may also not meet the individual needs of the contemporary consumer. This increases the likelihood of the need for its change. The article also envisages the direction of this change towards post-platform economy based on distributed market spaces and provides the characteristics of its determinants, including social capital and a sense of individual entrepreneurship. The primary methods used in the study involved analysis and critique of the current world literature as well as the method of analysis and logical construction. (shrink)

The papers collected in this volume exemplify some of the trends in current approaches to logic, language and computation. Written by authors with varied academic backgrounds, the contributions are intended for an interdisciplinary audience. The first part of this volume addresses issues relevant for multi-agent systems: reasoning with incomplete information, reasoning about knowledge and beliefs, and reasoning about games. Proofs as formal objects form the subject of Part II. Topics covered include: contributions on logical frameworks, linear logic, and (...) different approaches to formalized reasoning. Part III focuses on representations and formal methods in linguistic theory, addressing the areas of comparative and temporal expressions, modal subordination, and compositionality. (shrink)

Over the last few decades, the idea that education should function to promote economic progress has played a major role in shaping educational policy. So far, however, philosophers of education have shown relatively little interest in analysing this notion and its implications. The present article critically examines, from a philosophical perspective, the link between education and the currently prevailing understanding of economic progress, which is grounded in human capital theory. A number of familiar philosophical objections to the idea that (...) economic progress is a worthy educational aim are raised, but it is held that many of these objections stem from a partial understanding of economic theory. The article then moves on to investigate the foundations of human capital theory's conception of economic progress. It is argued that there are inherent tensions between the philosophical foundations of the economist's conception of progress and the very essence of education. The article concludes by suggesting that in order to resolve these tensions we should consider grounding the economic theory that guides educational policy-making in an intersubjective or objective conception of welfare. (shrink)

In 2004, the Department for Education and Skills in England published its Five Year Strategy for Children and Learners (DfES, 2004). It was preceded by Excellence and Enjoyment: a strategy for primary schools (DfES, 2003). 'Excellence and enjoyment' seems to constitute an ambiguity, even a contradiction. The government's view is otherwise. It states that enjoyment (for pupils) is a consequence of excellent teaching. In turn, excellent teaching is said to be more assured if it is personalised and creative. This official (...) logic is questionable. A different interpretation is offered. Global capitalism is placing fiscal pressures on the public expenditure of the nation-state, and new accommodations and justifications have to be made by government as it continues to re-focus the education system towards an economic purpose. In this endeavour it must gain public and professional assent. Informed by critical theorists, it is argued here that 'excellence' associates with a producer ethic; 'enjoyment' with a consumer ethic. The former enables the capital accumulation process within a social-democratic welfare state; the latter justifies the policies of accumulation. (shrink)

To enable that the new generation of entrepreneurs can effectively use their own qualities and abilities to improve the level of entrepreneurial performance, and to successfully pass through the entrepreneurial period of the enterprise and achieve longer-term development, the new generation of entrepreneurs is taken as the research object, and firstly, the definition and interaction of psychological capital and entrepreneurial performance are pointed out. Secondly, the questionnaires are designed with reference to the relevant maturity scales, and the reliability, validity (...) analysis, correlation analysis, and multiple linear regression analysis of the collected effective questionnaires are carried out through SPSS and AMOS software. Thirdly, on this basis, it verifies the influence of psychological capital of the new generation entrepreneurs on entrepreneurial performance and the moderating effect of entrepreneurial environment perception. The results show that there is a significant positive correlation between the dimensions of psychological capital and entrepreneurial performance. Gender, age, educational background, marital status, the establishment time of enterprises, and the number of employees all have a significant impact on the psychological capital of the new generation of entrepreneurs. Among them, the psychological capital of the new generation of entrepreneurs aged 31–35 is the best, followed by aged 26–30, 21–25, and the worst is 20 years old and below, which is logical. The correlation coefficient between psychological capital and entrepreneurial performance, social capital and entrepreneurial performance shows a significant positive correlation. The research on the relationship between psychological capital, social capital, and entrepreneurial performance of new generation entrepreneurs systematically explains why some enterprises created by the new generation of entrepreneurs can achieve rapid growth and deepen the research in related fields. (shrink)

This essay examines Martha Nussbaum's prescription fortempering retribution with mercy in the capitalsentencing process. Nussbaum observes that theoperation of retribution in the ancient world resultedin harsh and indiscriminate punishment without regardto the particularities of the offender and his crime. In the interest of mercy, Nussbaum advocates the useof the novel as a model for a more compassionatesentencing process. An examination of Nussbaum's``novel prescription'' reveals that the retribution thatoperates in the modern criminal law, and in theSupreme Court's capital sentencing jurisprudence,already (...) accommodates the values of justice –individuation, particularization, and proportionality– that are characteristic of the mercy tradition. Moreover, the rich narrative approach that Nussbaumfavors is by no means congenial to mercifulpunishment. Because the particularistic detail of thenovel form is not confined to the sympatheticportrayal of the defendant, the emotionalism thatNussbaum urges encompasses as well emotional detailsabout the characteristics of the defendant's victim. Such victim impact evidence is consistent with thenovel form, but is unlikely to promote mercifuljudgment. Instead, the details of victim impactevidence can be expected to exacerbate a sentencingauthority's inclination to judge a capital defendantharshly. The novel thus provides a poor model for thecapital sentencing process because it fosters the sortof unchecked emotionalism that undermines the rationaldecision making that the Supreme Court has sought toachieve. (shrink)

Ecological concern has recently prompted efforts to assess the economic value of ecological functions: the “work of nature” must no longer be taken for granted as a free amenity, but priced and accounted for as “natural capital.” Critiques of this approach tend to defend nature’s intrinsic value against intrusions of economic logic, but fail to articulate a compelling politics in response. I here argue that nature ought indeed to be brought in to the realm of political economy, but (...) question the category of natural capital: instead, extending the insights of feminist theorists regarding undervalued forms of production, I articulate an expanded idea of hybrid labor that understands the “work of nature” as a collective, distributed undertaking of humans and nonhumans acting to reproduce, regenerate, and renew a common world. This approach poses the value of nature as inherently political and suggests the potential for new forms of more-than-human politics. (shrink)

Fine and Saad-Filho are wrong to insist that an abstract category of production should be the starting point of Marxist value-theory in logical, temporal and causal terms. Marx, in Capital, begins with a repertoire of simpler categories and slowly constructs the complex category of capitalist production. It is vital that exploitation should be seen as one phase of a process of capital-in-motion, and due weight given to money, competition and realisation.

The Fifth International Congress of Logic, Methodology and Philosophy of Science was held at the University of Western Ontario, London, Canada, 27 August to 2 September 1975. The Congress was held under the auspices of the International Union of History and Philosophy of Science, Division of Logic, Methodology and Philosophy of Science, and was sponsored by the National Research Council of Canada and the University of Western Ontario. As those associated closely with the work of the Division over (...) the years know well, the work undertaken by its members varies greatly and spans a number of fields not always obviously related. In addition, the volume of work done by first rate scholars and scientists in the various fields of the Division has risen enormously. For these and related reasons it seemed to the editors chosen by the Divisional officers that the usual format of publishing the proceedings of the Congress be abandoned in favour of a somewhat more flexible, and hopefully acceptable, method of pre sentation. Accordingly, the work of the invited participants to the Congress has been divided into four volumes appearing in the University of Western Ontario Series in Philosophy of Science. The volumes are entitled, Logic, Foundations of Mathematics and Computability Theory, Foun dational Problems in the Special Sciences, Basic Problems in Methodol ogy and Linguistics, and Historical and Philosophical Dimensions of Logic, Methodology and Philosophy of Science. (shrink)

Written before the impressive collapse of the socialist system in Eastern Europe, this book offers a quite objective and serious systematic analysis of the Marxian labor theory of value, Marx's main scientific legacy. After reconstructing the 'prototype' of this theory - which is the theory as it was left by Marx himself in Capital - the author proceeds to a careful and detailed analysis of its foundational problems, taking into account Bohm-Bawerk's important criticisms. After introducing advanced contemporary formal tools, (...) the author proceeds to a thorough discussion of the dialectical method, just in order to tackle the foundational problems of the theory. He provides a formally precise and well motivated definition of abstract labor, and then proceeds to prove the existence of a measurement of abstract labor - i.e. the existence of numerical labor-values. Using this result, the author provides rigorous axiomatic foundations for the theory of value and then proves the existence of a Marxian competitive equilibrium, which is tantamount to the proof of the possibility of reproduction for a capitalist economy. The author finishes the book by showing in detail how the problems of the prototype are solved, by reconstructing the Leontief model of the labor theory of value on the new logical bases. Written in a very clear style, in the language of contemporary philosophy of science, the book is of interest to philosophers of science and economists, applied logicians and all those interested in the scientific legacy of Karl Marx. (shrink)

This is a work of historical critical exegesis. It aims to establish the influence of the Science of Logic (SL) of G.W.F. Hegel on the Grundrisse of Karl Marx. It is the first work in the history of Marx Studies to demonstrate that the Hegelian logic guided Marx's doctrinal development, and that the ordering of the logical categories in the SL is reflected in the ordering of economic categories in the Grundrisse.

This article offers a detailed analysis of Ilyenkov’s conception of the relationship between the logical and the historical. It posits that Ilyenkov, by overcoming the theoretical impasses of mainstream Soviet Marxism, was the first thinker to recognize the centrality of this relationship in dialectics. Through a brief overview of the official conception of Diamat, I explain that the latter broadly understood the relation of the logical and the historical in a rather superficial way. I then argue that Ilyenkov’s approach to (...) dialectics as the ascent from the abstract to the concrete, combined with his research orientation towards the method of Marx’s Capital and his reevaluation of Hegel’s philosophy led him to a much deeper understanding of the inner unity of the method of ascent from the abstract to the concrete and the relation of the logical and the historical. In reconstructing Ilyenkov’s analysis on this matter, I explain how the unfolding of the categories throughout the ascent from the abstract to the concrete is inextricably intertwined with the relation of the logical and the historical. Therefore, the article concludes by arguing that Ilyenkov’s analysis marks a significant advance in the understanding of dialectics in the history of Marxism, and a core aspect of this deeper understanding is his systematic approach to the relationship of the logical and the historical. (shrink)