Ktismatics has an interesting post and discussion up on different conceptions of value and the fetish, with reference to The Wire. A taste, from the comments:
I’ve been reading some of N. Pepperell’s posts about Marx on Rough Theory, and in so doing I realize that I, like Stringer, have a hard time thinking of value in terms other than product. The Wire doesn’t dwell on the effects of narcotics on the user, and it certainly doesn’t look at the work entailed in growing, processing and transporting the drugs. All we ever see is the exchange: the buyer hands off the money to person A and receives the product from person B. We do see the product being “stepped on;” i.e., reduced in potency by mixing it with baking soda, thereby increasing the sheer weight of stuff being sold. Apparently the users are willing to tolerate, and to pay for, heroin at less than full strength. It’s difficult for the user to know for sure how hard the product has been stepped on, since the high it generates is a subjective response. However, the reduction in effectiveness must be noticeable, especially in comparison to product on offer from competitors. What the buyer cares about is the subjective benefit s/he receives from the product; i.e., the quality of the high from ingesting the dope. And s/he is willing to pay more for what promises to be a better high, based on prior personal experience with the product as well as marketplace information obtained from other buyers who have used the product.
When I was replying to this thread, I found myself writing something that might or might not be clearer than some of what I’ve tossed out over here – specifically, I wrote:
I see value, instead, as referring to, if this makes sense, “what labour will have been”. We operate in a context in which all sorts of empirical activities are being carried out, in the hope that they will somehow successfully push product. Those activities don’t always succeed. Sometimes they do; sometimes they don’t; sometimes they don’t succeed as well as they were intended to; sometimes they succeed enormously better than expected. “Value” is the term for the level of “success” that ultimately gets conferred on product – not the labour expended, but the degree of social recognition bequeathed. The amount of value that will be conferred can never be known from the empirical labouring activities or other directly perceptible elements that go into the product. The category of value therefore refers to something of which we can never have exact knowledge – it’s the category of a society that acts out an “in itself” – an unknowable inner essence whose effects nevertheless pervade what we can know and perceive directly.
I’ll correct this comment a bit here: I see “abstract labour” as referring to “what labour will have been”. Value refers to the abstract labour “materialised” in a product. Both are fundamentally retrospective categories – categories that we can read out of macrosociological trends unfolding over time, but not categories that can be derived from any concretistic empirical analysis of actual labouring activities or actual goods at any specific moment in time. Abstract labour and value are products of the reproduction of capital.
I see Marx trying to draw our attention (in this bit of the argument) to the implications of a collective practice we take utterly for granted: the practice of engaging speculatively in labouring activities, in the hopes that these activities will produce something that “succeeds” on the market. Many of these speculative efforts fail; many don’t succeed as well as hoped; many do succeed; and some succeed beyond all expectation. There is no correlation between the amount of empirical labour, resources, and other directly measurable factors, and the level of success – Marx somewhere uses the term “conferred” – on the products of some particular labouring activity.
Marx is trying to tarry over this, when he makes the opening argument about value and the fetish – to ask what the implications of living in such an environment might be, for forms of perception, thought, embodiment, political ideals. The first chapter of Capital is a very compressed demonstration of some of those implications, before we even get to the point of examining the component practices that bring this whole system into existence and reproduce it.
One of his arguments is that the context is haunted by “what labour will have been” – by this intrinsically unknowable “abstract labour” that will ultimately be conferred on particular activities to particular degrees, endorsing or disendorsing those activities as successful inclusions in what gets to “count” as “social labour” – and therefore, over time, exerting a sort of evolutionary selective pressure that encourages the reproduction of certain forms of labour over others. In the tacit metacommentary being addressed to Kant (and Hegel) in the opening chapter of Capital, abstract labour figures as a sort of practically enacted “in itself” of capitalist society – as something we create, something we produce, something we make – but whose qualitative characteristics resemble those expressed in certain kinds of philosophical categories, and that also express, on a much more mass and popular level, certain forms of embodiment and political ideals, such as those, for example, articulated in notions of “inalienable” essences that factor into the development of “rights talk”.
“Value” is a category that picks out the “abstract labour” that has been “materialised” in the products of labour. Of course, since “abstract labour” is “what labour will have been”, value is also a category that “will have been” (in Derrida’s terms, value is inherently a category of a time out of joint – but for Marx this is a specific time and a particular sort of out-of-jointness…). In Marx’s argument, as I hear it, value is a product – and moreover a product whose existence must be deduced from the apparently random flux of the movement of goods on the market and (as Capital unfolds from the first chapter) from trends in the development of the form of production itself. Marx teases the political economists, saying that they “don’t know where to have it” – that they don’t grasp the ontological status of the category of value, and therefore don’t grasp how the category is enacted in practice. This is not because political economy suppresses knowledge of expropriation (Marx will get to that argument later) – at this point in the text, he is arguing that the political economists don’t know “where to have” value, because value is perpetually a category that “will have been” – a category whose existence can only be read off retrospectively from the outcomes of social practice oriented to other ends. Even where value and its connection to abstract labour has been successfully deduced, Marx suggests that political economy doesn’t work out how social practice comes to be constrained so as to render such categories valid for this form of social life.
The rest of the work then, among other things, attempts to work this out – to establish how these “will have beens” are effected by practices that don’t set out to produce such a result. The category of capital – and the capital-wage labour relation – will soon be introduced as the necessary presupposition for these opening categories. More on all this some other time… Just experimenting with the new vocabulary for the moment, to see how comfortable I am with where it takes me…
On other fronts, Nate has a nice post up at what in the hell… distilling points from David Graeber’s “The Sadness of Post-Workerism”.
And, to everyone who helped out as I was trying to piece the lecture together: I delivered it last night (a bit like a premature baby). All went well. I think. All went, at the very least. Not much on global warming. Quite a lot on the philosophy of science, in relation to the specific question of developing alternatives to dogmatism and scepticism. A quick romp through Bacon, Descartes, Kant, Hegel, Nietzsche, Weber, Foucault, Latour, and various parts betwixt and between. An overarching argument about how easy it is for critics to be bitten in the butt, when they fail to grasp that they are operating in a non-linear historical context. And some sort of concluding bon mot about dogmatists currently using the tools of scepticism in the service of dogma – it all sounded very Adornian at the time, I’m certain of it… ;-P But seriously: thanks everyone – it was very helpful to be able to vent and to talk some things through.