Time, Labor and Social Domination: A Reinterpretation of Marx's Critical Theory is a 1993 book by the scholar Moishe Postone released by Cambridge University Press. In the book Postone presents a reinterpretation of Marx's critical theory. The book provides a reexamination of the core categories in Marx's critique of political economy. [1] [2] [3]
Postone states that Marx's later theories demonstrates that the core categories of modernity, such as commodity and capital, are temporally dynamic categories that are historically specific to modernity and its social form. [4] Postone interprets these categories as both generating and obstructing the possibility of a liberated way of life and community. The origin of this historical dynamic lies in the peculiar form of wealth that is specific to capitalist modernity, namely value, which is also a form of social mediation that Marx distinguishes clearly from material wealth.
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Furthermore, Postone states that the transformations undergone by the global capitalist order reveal a profound structural historical dynamic, which is what Marx analyzed. Postone asserts that, in contrast to the conventional view of the Soviet Union as a communist society, the differences between "West and East" are in fact part of a more complex whole, where the Soviet Union was a (failed) variant of the same capital accumulation regime rather than an alternative to capitalism. This is not only because the Soviet Union exploited the working class, but also because it was part of a global, temporal structuring and restructuring of capitalism.
Postone provides an in-depth analysis of Marx's category of the commodity, which is the most basic form of social relations in capitalism, and which is also the basis for the category of capital. Postone points out that Marx's categories are historically specific. [5] On the basis of this understanding, Postone states that he can show that modernity and its categories that appear to be transhistorical are in fact reified appearances. This makes it possible to systematically differentiate the core of modernity from its various historical configurations.
Marx's analysis of the commodity shows that labor in capitalist society has a dual nature: it is concrete labor on the one hand and Abstract labor on the other. Postone examines the fact that abstract labor is not (concrete) labor in general but has a unique social dimension that cannot be derived from (concrete) labor as such: it mediates a new, quasi-objective form of social interdependence. Abstract labor is a historically specific mediating function; it is the content or 'substance' of value. Labor in capitalism, according to Marx, is not only labor understood transhistorically but a historically specific socially mediating activity. Therefore, the objectification of labor—in the commodity, capital, etc.—is both concrete products of labor and objectified forms of social mediation. Basically, capitalist society is structured by a new underlying level of social relations constituted by this historically specific form of labor. These social relations have a special quasi-objective character and are dualistic in that they are characterized by the opposition between an abstract, general, homogeneous dimension and a concrete, particular, material dimension. The relations of capitalist society therefore appear to be 'natural' rather than social. [6]
The abstract nature of this social relation is also expressed in the form of wealth that is dominant in capitalist society. Abstract labor creates value, which is different from the material wealth (in the form of use values) created by concrete labor. Marx analyzed value as a historically specific form of wealth that is tied to the historically unique role of labor in capitalism, and as a form of wealth, it is also a form of social mediation. Material wealth is measured by the quantity of products while value is only constituted by the acquisition of labor time.
The temporal dynamic of value is at the root of the historical logic of capital, according to the argument put forth by Postone. [7] While Marx's theory of surplus value is often interpreted as a theory of exploitation, Postone rather examines the value in this temporal dynamic. [8] In other words, the problem is not the unfair distribution of surplus value, but also the continued existence of the modern category of value itself. Postone argues that Marx's distinction between the production of use values and the creation of surplus value in the valorization process is critical to understanding this dynamic. Marx distinguished between absolute and relative surplus value, with the latter characterized by temporal acceleration. The higher the level of social productivity, the higher productivity must continue to increase to generate an increase in surplus value. However, this increase in material wealth does not reduce the need for labor. The sale of labor remains a necessary means of subsistence and a basic necessity for the production process, regardless of the level of productivity. In short, Postone's argument suggests that the commodity form structures and subjugates society through a historically specific and abstract form of temporality. [9] [10]
Postone argues that Marx's introduction of the category of capital is not meant to describe a mystified power that controls workers, but rather to describe a real form of existence that has been historically constituted in an alienated form. According to Postones reinterpretation, capital is both dimensions of social labor, i.e., abstract and concrete labor, in alienated form.
Marx initially introduced the category of capital as a dimension of value-creating labor, i.e., self-propagating value. However, as Marx continued his analysis, he argued that the concrete aspect of labor, i.e., use-value-creating labor, also becomes an attribute of capital. In the case of cooperation and manufacture, capital's appropriation of concrete labor appears to be a question of ownership. However, in large-scale industries, the productive forces of concrete labor are no longer those of the workers, and labor is already constituted in an alienated form, separated and opposed to the workers.
Postone's analysis further suggests that capital is not a unitary totality and that the Marxist conception of the dialectical opposition between relations of production and forces of production is not an opposition between relations that are capitalist and forces of production that are external to the totality. Rather, the dialectical contradiction is a contradiction between two dimensions of capital. In other words, capitalist society generates a complex historical dynamic, a directed movement without external telos, as a dialectical and open totality. [11] [12]
The labor theory of value (LTV) is a theory of value that argues that the exchange value of a good or service is determined by the total amount of "socially necessary labor" required to produce it. The contrasting system is typically known as the subjective theory of value.
The Frankfurt School is a school of thought in sociology and critical philosophy. It is associated with the Institute for Social Research founded at Goethe University Frankfurt in 1923. Formed during the Weimar Republic during the European interwar period, the first generation of the Frankfurt School was composed of intellectuals, academics, and political dissidents dissatisfied with the socio-economic systems of the 1930s: namely, capitalism, fascism, and communism. Significant figures associated with the school include Max Horkheimer, Theodor Adorno, Walter Benjamin, Wilhelm Reich, Herbert Marcuse, and Jürgen Habermas.
In Marxist philosophy, the term commodity fetishism describes the economic relationships of production and exchange as being social relationships that exist among things and not as relationships that exist among people. As a form of reification, commodity fetishism presents economic value as inherent to the commodities, and not as arising from the workforce, from the human relations that produced the commodity, the goods and the services.
Moishe Postone was a Canadian historian, sociologist, political philosopher and social theorist. He was a professor of history at the University of Chicago, where he was part of the Committee on Jewish Studies.
Abstract labour and concrete labour refer to a distinction made by Karl Marx in his critique of political economy. It refers to the difference between human labour in general as economically valuable worktime versus human labour as a particular activity that has a specific useful effect within the (capitalist) mode of production.
Time–space compression is an idea referring to the altering of the qualities of space–time and the relationship between space and time that is a consequence of the expansion of capital. It is rooted in Karl Marx's notion of the "annihilation of space by time" originally elaborated in the Grundrisse, and was later articulated by Marxist geographer David Harvey in his book The Condition of Postmodernity. A similar idea was proposed by Elmar Altvater in an article in PROKLA in 1987, translated into English as "Ecological and Economic Modalities of Time and Space" and published in Capitalism Nature Socialism in 1990.
Krisis is an anti-political German political magazine and discussion group formed in 1986 as a "theoretical forum for a radical critique of capitalist society." Its members includes Robert Kurz, Roswitha Scholz, Nobert Trenkle, Ernst Lohoff, Achim Bellgart and Franz Schandl.
Criticism of Marxism has come from various political ideologies, campaigns and academic disciplines. This includes general intellectual criticism about dogmatism, a lack of internal consistency, criticism related to materialism, arguments that Marxism is a type of historical determinism or that it necessitates a suppression of individual rights, issues with the implementation of communism and economic issues such as the distortion or absence of price signals and reduced incentives. In addition, empirical and epistemological problems are frequently identified.
Helmut Reichelt is a German Marxian critic of political economy, sociologist and philosopher. Reichelt is one of the main authors of the “Neue Marx-Lektüre” and considered to be one of the most important theorists in the field of Marx's theory of value.
Critique of political economy or simply the first critique of economy is a form of social critique that rejects the conventional ways of distributing resources. The critique also rejects what its advocates believe are unrealistic axioms, faulty historical assumptions, and taking conventional economic mechanisms as a given or as transhistorical. The critique asserts the conventional economy is merely one of many types of historically specific ways to distribute resources, which emerged along with modernity.
Robert Kurz was a German philosopher, social critic, journalist and editor of the journal Exit! He was one of Germany's most prominent theorists of value criticism.
In Marxist theory and Marxian economics, the immiseration thesis, also referred to as emiseration thesis, is derived from Karl Marx's analysis of economic development in capitalism, implying that the nature of capitalist production stabilizes real wages, reducing wage growth relative to total value creation in the economy. Even if real wages rise, therefore, the overall labor share of income decreases, leading to the increasing power of capital in society.
Post-Marxism is a perspective in critical social theory which radically reinterprets Marxism, countering its association with economism, historical determinism, anti-humanism, and class reductionism, whilst remaining committed to the construction of socialism. Most notably, Post-Marxists are anti-essentialist, rejecting the primacy of class struggle, and instead focus on building radical democracy. Post-Marxism can be considered a synthesis of post-structuralist frameworks and neo-Marxist analysis, in response to the decline of the New Left after the protests of 1968. In a broader sense, post-Marxism can refer to Marxists or Marxian-adjacent theories which break with the old worker's movements and socialist states entirely, in a similar sense to Post-leftism, and accept that the era of mass revolution premised on the Fordist worker is potentially over.
Socially necessary labour time in Marx's critique of political economy is what regulates the exchange value of commodities in trade. In short, socially necessary labour time refers to the average quantity of labour time that must be performed under currently prevailing conditions to produce a commodity.
Value criticism is a social theory which draws its foundation from the Marxian tradition and criticizes the contemporary mode of production. Value criticism was developed partly by critical readings of the traditions of the Frankfurt School and critical theory. Prominent adherents of value criticism include Robert Kurz, Moishe Postone and Jean-Marie Vincent.
Capital: A Critique of Political Economy, also known as Capital and Das Kapital, is a foundational theoretical text in materialist philosophy and critique of political economy written by Karl Marx, published as three volumes in 1867, 1885, and 1894. The culmination of his life's work, the text contains Marx's analysis of capitalism, to which he sought to apply his theory of historical materialism "to lay bare the economic law of motion of modern society", following from classical political economists such as Adam Smith and David Ricardo. The text's second and third volumes were completed from Marx's notes after his death and published by his colleague Friedrich Engels. Das Kapital is the most cited book in the social sciences published before 1950.
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. Because one does not necessarily have to be politically Marxist to be economically Marxian, the two adjectives coexist in usage, rather than being synonymous: They share a semantic field, while also allowing both connotative and denotative differences. An example of this can be found in the works of Soviet economists like Lev Gatovsky, who sought to apply Marxist economic theory to the objectives, needs, and political conditions of the socialist construction in the Soviet Union, contributing to the development of Soviet Political Economy.
The Grundrisse der Kritik der Politischen Ökonomie, often simply the Grundrisse, is an unfinished manuscript by the German philosopher Karl Marx. The series of seven notebooks was rough-drafted by Marx, chiefly for purposes of self-clarification, during the winter of 1857–8. Left aside by Marx in 1858, it remained unpublished until 1939.
This article is about scholarly criticism of Karl Marx’s idea about the form of value in capitalist society. Marx himself provided a first starting point for this scholarly controversy when he claimed that Capital, Volume I was not difficult to understand, "with the exception of the section on the form of value." Friedrich Engels argued in his Anti-Dühring polemic of 1878 that "The value form of products... already contains in embryo the whole capitalist form of production, the antagonism between capitalists and wage-workers, the industrial reserve army, crises..." Nowadays there are many scholars who feel that Marx’s theory of the value-form was misinterpreted for a hundred years. This allegedly had effect that the radical meaning of Marx’s critique of capitalism as a whole was misunderstood or diminished, so that it became just another version of economics.
Capital is a central concept in Marxian critique of political economy, and in Marxian thought more generally.