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Category Archives: Political Economy

Capital, Volume 1, Chapter 1: An Aside on the Category of Capital

One very quick comment, as I have a very long teaching day today, and don’t have much time to write: just in case it has escaped attention, the first chapter of Capital – although I obviously think it deserves great attention – does not actually deploy the category of capital (which, in the scheme of things, one would imagine would be a fairly important category to analyse…). Instead, the phenomenological perspective it analyses remains within commodity production and exchange, which means, among other things, that the concept of the fetish as discussed here is therefore primarily directed at certain “Cartesian” forms of perception that are expressed in this dimension of collective experience.

Marx will gradually work his way “up” (down?) to the category of capital, over the course of several subsequent chapters, unfolding an analysis of an array of additional immanent phenomenological perspectives as he goes, linking each to an aspect of collective practice. Each of these phenomenological perspectives remains available as a moment within capitalism, understood as an overarching social context: though these forms of experience or thought may “contradict” one another in various respects, they share the common quality of expressing specific dimensions of their shared context, and they do not reflect “historical” forms of thought that have been “superseded” in the course of capitalist development (although particular phenomenological experiences may come more to the fore in particular places and times).

In emphasising the argument about the fetish is such detail, I don’t want to lose sight of the fact that this section of Marx’s argument is still a sort of preliminary gesture. I’m dwelling on this section at such length because I find it a useful way to explore Marx’s presentational strategy and tacit theoretical commitments: a close analysis of this first chapter pays off, when moving forward through the text. Nevertheless, the particular forms of subjectivity being analysed directly in this section are only the beginning moves in an elaborate reflexive theory.

Previous posts in the series:

Fragment on Textual Strategy in Capital

Reflections on the “Greatest Difficulty”

Nature and Society

Value and Abstract Labour as Real Abstractions

An Aside on the Fetish

Human Labour in the Abstract

Next post in this series:

Value and Its Form – From Deduction to Dialectics

Capital, Volume 1, Chapter 1: Human Labour in the Abstract

So I’ve decided that I’m not quite ready to let go of the first chapter of Capital. My provisional thought, very much subject to change, is that I’ll write something brief tonight on abstract labour, then at some point soon take up the complex discussion going on in the section on the form of value, and then write something on whatever bits of the section on commodity fetishism I haven’t managed to roll into the other posts.

In my last post in this series, I suggested that:

  • the first chapter was driving toward the argument about commodity fetishism,
  • significant aspects of the earlier sections of the chapter were intended to express fetishised forms of perception and thought, rather than Marx’s own “position”, and
  • fetishised forms of perception involve the attribution of supersensible social qualities to material objects.

In previous posts in this series (I’ve included a full list at the bottom of this post), I’ve suggested that this argument doesn’t simply involve the claim that “supersensible” qualities are inappropriately “projected” onto material nature. First, since this is a reflexive argument, Marx is seeking to ground, rather than simply debunk, the forms of thought he is analysing (including the forms of thought mobilised in his own critique). He therefore won’t treat the fetish as a “mere” conceptual error or a simple “illusion”. He will instead position fetishised perceptions as “forms of thought expressing with social validity the conditions and relations of a definite, historically determined mode of production”. He will also present the fetish as arising from a particular way of enacting our collective lives, such that fetishised forms of thought are related to determinate qualitative characteristics of social “realities” enacted in particular forms of collective practice:

the relations connecting the labour of one individual with that of the rest appear, not as direct social relations between individuals at work, but as what they really are, material relations between persons and social relations between things. (emphasis mine)

This reflexive strategy enables Marx (in principle) to construct a socially immanent critique that accounts for the practical genesis of the forms of thought it opposes, while also using the same analysis to demonstrate that such forms of thought are partial, and thus fail to grasp emancipatory potentials necessarily generated through the same practical, collective process that reproduces capitalism.

Second, I have suggested that the argument about the fetish is not concerned solely with explaining the “supersensible” properties that are perceived to inhere in material objects: it also lays the foundation for grasping the conviction that there are “material objects” – problematising the conception (expressed in many places in the first chapter) that our perception of a “material world” represents some kind of “demythologised” form of thought that arises quasi-automatically, once artificial social determinations have been stripped away, leaving “nature” behind. Instead, the “material world” is grasped in this argument as its own practically constituted “positivity” – as the product of determinate kinds of collective practice. (As a side note, to avoid confusion: This kind of argument is not intended to position human practice as somehow generative of the entirety of the non-human world – evoking a sort of radical social constructivism – but rather to explore connections between our current sensitivity to specific potentials of the non-human world, and other dimensions of our contemporaneous historical experience.)

Note that, since I’m suggesting that Marx is unfolding a reflexive critical theory, this sort of analytical move does not invalidate his own critical deployment of a (grounded) notion of “materialism”. Instead, this move enables Marx to deploy a concept of materialism (or other normative standards) non-dogmatically, in a way that symmetrically applies the same critical framework to his own position, and to positions he criticises, and thus does not rely on critical standards that float above the context being criticised.

I therefore see the “denaturalising” move made by the argument about the fetish as cutting “both ways” – as encompassing concepts of use value and exchange value, sensuous material nature and supersensible laws, subjects and objects, and a constellation of other dichotomies that will be unfolded as having interrelated, practical bases in the course of this analysis. And I see this argument opening up the possibility for an analysis of capitalism as a peculiarly “layered” social context, constituted by intrinsically bound and yet conflictual dimensions of collective practice that mutually differentiate one another to constitute a practical dichotomy between, on the one hand, a “secularised” impersonal world of “material” objects whose interactions are governed by “universal” laws, and, on the other, a contingent, historically-variable, intersubjective realm of human custom.

But I said I was going to write about abstract labour… ;-P I’m realising as I pause here that I’ve become extremely tired, but I likely won’t have much time to write for the next couple of days, and I’d rather not let this line of thought go completely cold. As a least-worst option, I’m going to dash something out that I suspect won’t manage to express what I’m after. Apologies for the confusion this will probably cause, but my hope is that folks will be patient enough to offer criticisms in the gamble that my next attempt might be a bit clearer and closer to the mark.

I’ve already suggested in previous posts that the “deduction” of the existence of abstract labour, as presented in the early sections of this chapter, does not represent Marx’s own position, but rather a form of fetishised thought. Thus, in the first section, Marx writes as though commodities can be exchanged because, as objects, they possess the supersensible property of containing equal quantities of abstract labour:

A given commodity, e.g., a quarter of wheat is exchanged for x blacking, y silk, or z gold, &c. – in short, for other commodities in the most different proportions. Instead of one exchange value, the wheat has, therefore, a great many. But since x blacking, y silk, or z gold &c., each represents the exchange value of one quarter of wheat, x blacking, y silk, z gold, &c., must, as exchange values, be replaceable by each other, or equal to each other. Therefore, first: the valid exchange values of a given commodity express something equal; secondly, exchange value, generally, is only the mode of expression, the phenomenal form, of something contained in it, yet distinguishable from it.

Let us take two commodities, e.g., corn and iron. The proportions in which they are exchangeable, whatever those proportions may be, can always be represented by an equation in which a given quantity of corn is equated to some quantity of iron: e.g., 1 quarter corn = x cwt. iron. What does this equation tell us? It tells us that in two different things – in 1 quarter of corn and x cwt. of iron, there exists in equal quantities something common to both. The two things must therefore be equal to a third, which in itself is neither the one nor the other. Each of them, so far as it is exchange value, must therefore be reducible to this third.

A simple geometrical illustration will make this clear. In order to calculate and compare the areas of rectilinear figures, we decompose them into triangles. But the area of the triangle itself is expressed by something totally different from its visible figure, namely, by half the product of the base multiplied by the altitude. In the same way the exchange values of commodities must be capable of being expressed in terms of something common to them all, of which thing they represent a greater or less quantity.

This common “something” cannot be either a geometrical, a chemical, or any other natural property of commodities. Such properties claim our attention only in so far as they affect the utility of those commodities, make them use values. But the exchange of commodities is evidently an act characterised by a total abstraction from use value. Then one use value is just as good as another, provided only it be present in sufficient quantity. Or, as old Barbon says,

“one sort of wares are as good as another, if the values be equal. There is no difference or distinction in things of equal value … An hundred pounds’ worth of lead or iron, is of as great value as one hundred pounds’ worth of silver or gold.”

As use values, commodities are, above all, of different qualities, but as exchange values they are merely different quantities, and consequently do not contain an atom of use value.

If then we leave out of consideration the use value of commodities, they have only one common property left, that of being products of labour. But even the product of labour itself has undergone a change in our hands. If we make abstraction from its use value, we make abstraction at the same time from the material elements and shapes that make the product a use value; we see in it no longer a table, a house, yarn, or any other useful thing. Its existence as a material thing is put out of sight. Neither can it any longer be regarded as the product of the labour of the joiner, the mason, the spinner, or of any other definite kind of productive labour. Along with the useful qualities of the products themselves, we put out of sight both the useful character of the various kinds of labour embodied in them, and the concrete forms of that labour; there is nothing left but what is common to them all; all are reduced to one and the same sort of labour, human labour in the abstract.

In the section on the fetish, Marx explicitly contradicts this claim:

As a general rule, articles of utility become commodities, only because they are products of the labour of private individuals or groups of individuals who carry on their work independently of each other. The sum total of the labour of all these private individuals forms the aggregate labour of society. Since the producers do not come into social contact with each other until they exchange their products, the specific social character of each producer’s labour does not show itself except in the act of exchange. In other words, the labour of the individual asserts itself as a part of the labour of society, only by means of the relations which the act of exchange establishes directly between the products, and indirectly, through them, between the producers. To the latter, therefore, the relations connecting the labour of one individual with that of the rest appear, not as direct social relations between individuals at work, but as what they really are, material relations between persons and social relations between things. It is only by being exchanged that the products of labour acquire, as values, one uniform social status, distinct from their varied forms of existence as objects of utility. This division of a product into a useful thing and a value becomes practically important, only when exchange has acquired such an extension that useful articles are produced for the purpose of being exchanged, and their character as values has therefore to be taken into account, beforehand, during production. From this moment the labour of the individual producer acquires socially a twofold character. On the one hand, it must, as a definite useful kind of labour, satisfy a definite social want, and thus hold its place as part and parcel of the collective labour of all, as a branch of a social division of labour that has sprung up spontaneously. On the other hand, it can satisfy the manifold wants of the individual producer himself, only in so far as the mutual exchangeability of all kinds of useful private labour is an established social fact, and therefore the private useful labour of each producer ranks on an equality with that of all others. The equalisation of the most different kinds of labour can be the result only of an abstraction from their inequalities, or of reducing them to their common denominator, viz. expenditure of human labour power or human labour in the abstract. The twofold social character of the labour of the individual appears to him, when reflected in his brain, only under those forms which are impressed upon that labour in every-day practice by the exchange of products. In this way, the character that his own labour possesses of being socially useful takes the form of the condition, that the product must be not only useful, but useful for others, and the social character that his particular labour has of being the equal of all other particular kinds of labour, takes the form that all the physically different articles that are the products of labour. have one common quality, viz., that of having value.

Hence, when we bring the products of our labour into relation with each other as values, it is not because we see in these articles the material receptacles of homogeneous human labour. Quite the contrary: whenever, by an exchange, we equate as values our different products, by that very act, we also equate, as human labour, the different kinds of labour expended upon them. We are not aware of this, nevertheless we do it. Value, therefore, does not stalk about with a label describing what it is. It is value, rather, that converts every product into a social hieroglyphic. Later on, we try to decipher the hieroglyphic, to get behind the secret of our own social products; for to stamp an object of utility as a value, is just as much a social product as language. The recent scientific discovery, that the products of labour, so far as they are values, are but material expressions of the human labour spent in their production, marks, indeed, an epoch in the history of the development of the human race, but, by no means, dissipates the mist through which the social character of labour appears to us to be an objective character of the products themselves. The fact, that in the particular form of production with which we are dealing, viz., the production of commodities, the specific social character of private labour carried on independently, consists in the equality of every kind of that labour, by virtue of its being human labour, which character, therefore, assumes in the product the form of value – this fact appears to the producers, notwithstanding the discovery above referred to, to be just as real and final, as the fact, that, after the discovery by science of the component gases of air, the atmosphere itself remained unaltered. (bold text mine)

In between the sections quoted above, Marx scatters a number of indications that the concept of “human labour in the abstract” picks out a very peculiar social entity. In the first section, he argues:

The labour, however, that forms the substance of value, is homogeneous human labour, expenditure of one uniform labour power. The total labour power of society, which is embodied in the sum total of the values of all commodities produced by that society, counts here as one homogeneous mass of human labour power, composed though it be of innumerable individual units. Each of these units is the same as any other, so far as it has the character of the average labour power of society, and takes effect as such; that is, so far as it requires for producing a commodity, no more time than is needed on an average, no more than is socially necessary.

When Marx refers to the “total labour power of society”, this initially sounds as though he might be suggesting that “abstract labour” could just be something like “the total amount of goal-directed energy humans expend to transform material nature to meet their needs” – as though the term is just a conceptual abstraction from all the varieties of concrete labouring activities humans happen to undertake. Passages elsewhere in the chapter that speak of labour in physiological terms would seem to reinforce this impression:

Productive activity, if we leave out of sight its special form, viz., the useful character of the labour, is nothing but the expenditure of human labour power. Tailoring and weaving, though qualitatively different productive activities, are each a productive expenditure of human brains, nerves, and muscles, and in this sense are human labour. They are but two different modes of expending human labour power.

From the beginning, however, it is clear that the concept of “human labour in the abstract” is not just a useful conceptual category for classifying and grouping all different sorts of labour activity. Instead, the concept seems intended to pick out something coercive – a sort of unintended collective normative force that adjudicates what gets to “count as labour”. So, as Marx presents it, labouring activities – human physiological exertion, goal-directed transformations of nature, etc. – get to “count as labour” only if they generate a use value for others, and only to the extent that they conform to a socially average level of productivity. And the producers, although they may certainly strategise, plot and scheme, cannot know in advance whether, and to what extent, their labour will “count”.

Marx is already hinting at the coercive nature of abstract labour when, just after he first notes that value is measured by labour-time, he then immediately explains that there is a difference between the empirical expenditure of time in a production process, and the normative measure of abstract labour. He illustrates the potential consequences of this distinction with a well-chosen example:

The introduction of power-looms into England probably reduced by one-half the labour required to weave a given quantity of yarn into cloth. The hand-loom weavers, as a matter of fact, continued to require the same time as before; but for all that, the product of one hour of their labour represented after the change only half an hour’s social labour, and consequently fell to one-half its former value.

Abstract labour figures in this account as a sort of socially-constituted mass with a qualitatively homogeneous, undifferentiated character. Commodities are treated in social practice as though they “partake” of this qualitatively homogeneous supersensible substance to greater or lesser degrees. Concrete labouring activities therefore “count as labour” only to the degree that these activities are productive of commodities that “participate” in this socially-constituted mass. The empirical efforts expended in the production of particular commodities, the empirical form of concrete labouring processes, do not determine the extent to which empirical products serve as receptacles of materialised value. In relation to concrete “sensuous” elements of material production, value stands as a “counter-factual”, sensuously undetectable, social constraint.

Except. Commodities must also be use values. And productivity pertains to the production of some particular kind of use value. So there are determinate connections – conflictual ones – between empirical labouring processes and “human labour in the abstract”. These connections feed into the coercive dynamic associated with value:

If the productive power of all the different sorts of useful labour required for the production of a coat remains unchanged, the sum of the values of the coats produced increases with their number. If one coat represents x days’ labour, two coats represent 2x days’ labour, and so on. But assume that the duration of the labour necessary for the production of a coat becomes doubled or halved. In the first case one coat is worth as much as two coats were before; in the second case, two coats are only worth as much as one was before, although in both cases one coat renders the same service as before, and the useful labour embodied in it remains of the same quality. But the quantity of labour spent on its production has altered.

An increase in the quantity of use values is an increase of material wealth. With two coats two men can be clothed, with one coat only one man. Nevertheless, an increased quantity of material wealth may correspond to a simultaneous fall in the magnitude of its value. This antagonistic movement has its origin in the twofold character of labour. Productive power has reference, of course, only to labour of some useful concrete form, the efficacy of any special productive activity during a given time being dependent on its productiveness. Useful labour becomes, therefore, a more or less abundant source of products, in proportion to the rise or fall of its productiveness. On the other hand, no change in this productiveness affects the labour represented by value. Since productive power is an attribute of the concrete useful forms of labour, of course it can no longer have any bearing on that labour, so soon as we make abstraction from those concrete useful forms. However then productive power may vary, the same labour, exercised during equal periods of time, always yields equal amounts of value. But it will yield, during equal periods of time, different quantities of values in use; more, if the productive power rise, fewer, if it fall. The same change in productive power, which increases the fruitfulness of labour, and, in consequence, the quantity of use values produced by that labour, will diminish the total value of this increased quantity of use values, provided such change shorten the total labour time necessary for their production; and vice versâ.

At this early point, then, Marx has already begun to hint that increased productivity, in spite of the greater material wealth and command over nature it may generate, can provoke counter-intuitively negative consequences under capitalism, as concrete labouring activities are coercively compelled to comply with a new social norm of productivity. Marx describes this situation as “a state of society, in which the process of production has the mastery over man, instead of being controlled by him”. Significantly, the type of social coercion being described here, while grounded in human practice, is impersonal in character – generated as the unintentional consequence of practices oriented to other purposes. This is one aspect of why, as Marx describes, value is a “social hieroglyphic” that needs to be deciphered: compared with other, more “concrete” social institutions whose intersubjective character renders them “overtly” social, the dynamics associated with value confront people, by contrast, as if they are an asocial “objectivity”. Marx describes this strange, distinctive “relation of production” as “the relation of the producers to the sum total of their own labour” – the first generation Frankfurt School capture something similar when they discuss the domination of individuals by the social totality.

More – and hopefully more adequate – commentary on all of this, once I’ve recovered from teaching this week… Apologies for the many problems in this piece – just too tired to edit in any form…

The previous posts in this series are:

Fragment on Textual Strategy in Capital

Reflections on the “Greatest Difficulty”

Nature and Society

Value and Abstract Labour as Real Abstractions

An Aside on the Fetish

Things and Their Relations

Exhausted today, so just a stray association – something I wouldn’t mind exploring systematically at some point, but will just point out as a curiosity for now.

Reading Lukács’ “Reification and the Consciousness of the Proletariat“, I noticed an interesting displacement that occurs when Lukács translates Marx’s concept of the fetish, into his own concept of reification. In the first section of this work, Lukács offers the following gloss of Marx’s argument:

The essence of commodity-structure has often been pointed out. Its basis is that a relation between people takes on the character of a thing and thus acquires a ‘phantom objectivity’, an autonomy that seems so strictly rational and all-embracing as to conceal every trace of its fundamental nature: the relation between people.

Compare this to Marx’s discussion of commodity fetishism:

Whence, then, arises the enigmatical character of the product of labour, so soon as it assumes the form of commodities? Clearly from this form itself. The equality of all sorts of human labour is expressed objectively by their products all being equally values; the measure of the expenditure of labour power by the duration of that expenditure, takes the form of the quantity of value of the products of labour; and finally the mutual relations of the producers, within which the social character of their labour affirms itself, take the form of a social relation between the products.

A commodity is therefore a mysterious thing, simply because in it the social character of men’s labour appears to them as an objective character stamped upon the product of that labour; because the relation of the producers to the sum total of their own labour is presented to them as a social relation, existing not between themselves, but between the products of their labour. This is the reason why the products of labour become commodities, social things whose qualities are at the same time perceptible and imperceptible by the senses. In the same way the light from an object is perceived by us not as the subjective excitation of our optic nerve, but as the objective form of something outside the eye itself. But, in the act of seeing, there is at all events, an actual passage of light from one thing to another, from the external object to the eye. There is a physical relation between physical things. But it is different with commodities. There, the existence of the things quâ commodities, and the value relation between the products of labour which stamps them as commodities, have absolutely no connection with their physical properties and with the material relations arising therefrom. There it is a definite social relation between men, that assumes, in their eyes, the fantastic form of a relation between things. In order, therefore, to find an analogy, we must have recourse to the mist-enveloped regions of the religious world. In that world the productions of the human brain appear as independent beings endowed with life, and entering into relation both with one another and the human race. So it is in the world of commodities with the products of men’s hands. This I call the Fetishism which attaches itself to the products of labour, so soon as they are produced as commodities, and which is therefore inseparable from the production of commodities.

This Fetishism of commodities has its origin, as the foregoing analysis has already shown, in the peculiar social character of the labour that produces them.

I’m much, much too tired to outline – let alone substantiate – a proper argument here, but I wanted to suggest briefly that there is an interesting, if subtle, tension between these two formulations. Lukács takes commodity fetishism to refer to a situation in which “a relation between people takes on the character of a thing” (emphasis mine). Marx speaks, instead, of a situation in which producers’ relation to “the sum total of their own labour” is expressed in terms of “a social relation… between the products of their labour”, and in which “a definite social relation between men… assumes, in their eyes, the fantastic form of a relation between things” (emphasis mine).

Among the different paths these concepts then travel: Lukács describes social relations taking on a “phantom objectivity”, and goes on to argue that this is related to the ascendency of formal, abstract and instrumental forms of perception and thought; Marx, by contrast, draws attention to an apparently mystical process in which material things are constituted as the bearers of supersensible social properties. Lukács speaks as though the spread of market relationships generates “reification”; Marx instead argues that the fetish results from “the peculiar social character of labour” – something that he does relate to the spread of market exchange, but only en route to discussing how commodity-producing labour possesses a dual character, split between human energy actually expended in concrete “sensuous” labouring activities, and “human labour in the abstract” – a collectively-enacted, supersensible pool of homogeneous, undifferentiated “labour” in which concrete labouring activities partake, more or less successfully, at the point that their products enter into relations with one another during market exchange. Lukács’ reification picks out the hypertrophic and cancerous expansion of a one-sided, abstract and formal “rationality”; Marx’s fetish picks out a sensuous material world “haunted” by supersensible entities.

At some point when I’m less tired, I’ll try to do something with this tension. 🙂 For the moment, I just toss it out as a placeholder, and to see whether others have any thoughts or associations on the issue…

Capital, Volume 1, Chapter 1: An Aside on the Fetish

Okay. I want to stop here for a moment, catch my breath, and emphasise a couple of things about how I’m interpreting the argument on the fetish, before moving back into the text in greater detail. Note that this post might not make sense unless you’ve read at least the post immediately prior, on Value and Abstract Labour as Real Abstractions.

As I have presented it here, “commodity fetishism” is a form of perception or thought that perceives material objects and human beings to possess supersensible essences that are distinct from their overtly-observable, sensuous properties. These essences are understood to be governed by impersonal laws. The existence of such laws can be inferred or deduced from empirical observation and manipulated instrumentally for human ends, but the laws (and the essences) are not understood to derive from contingent human practice.

Marx will not deny that such “essences” and “laws” exist – he is not undertaking an “abstract negation” that sees political economy as a simple error in thinking. His critical argument is that he can reach beyond the political economists to show how such “essences” and “laws” are brought into being, why it is plausible to perceive such essences and laws as “natural”, and yet why it has also become possible, over time, to understand the practical basis for these fetishised forms of thought – and thereby to open the possibility for transformation.

In the previous posts in this series, I have suggested that this line of argument opens up some very interesting potentials for understanding dimensions of modernity that reach well beyond the discourse of political economy: our sensitivity, for example, to a particular kind of dichotomy between “society” and “nature”, in which both poles of this dichotomy possess a very distinctive qualitative form; our sensitivity to the possibility for something like “matter” (understood as secularised “stuff” whose intrinsic nature is devoid of anthropological determinations); our sensitivity to the notion of an essential “human nature” lurking beneath the diverse overlays of culture (I’ll poke Wildly Parenthetical here, although I think she’s away at the moment – readers should note I’m not trying to hold her responsible for what I’m saying, but just flagging something I suspect she’ll be interested in – her work on experiences of an inner self is much more extensive than mine, so this is just a quick nod and a wave as I stumble across her terrain…). I could add other examples – and none of the examples I list here have been unfolded in a persuasive way in the writings I’ve undertaken so far. I list these points as placeholders for future development, as partial explanations for why I’m spending so much time lately on Marx, and as suggestions that Marx offers something vastly more powerful than a “critical economics” – that his work carries implications for a critical social theory of modernity that does something much more wide-reaching than it might initially seem.

A few further asides, on other interpretations of the fetish. The argument on the fetish is very often understood – or, at least, very often used – in quite different ways from what I’m outlining here. It is often used, for example, as a kind of anti-consumerist critique: we value money or material wealth so highly that we forget that it’s just an object, just a thing, of importance socially only because we make it important. It is often used as a kind of critique of individualism or private property: because we produce goods privately, rather than planning production collectively, we don’t become aware that, in reality, we are collectively engaged in a single, unified process of social production. It is often used as a critique of class domination: because the circulation of goods appears to involve only the exchange of equivalents, the reality of inequality and class domination is masked. It is often used as a critique of market distribution: markets abstract from the concrete conditions in which goods and services are produced, and thus veil the network of concrete social relations in which material reproduction actually unfolds. It is often used as a critique of “reification” or the domination of instrumental reason: because we perceive the natural world, and our fellow human beings, as “things” – as objects – we therefore treat them instrumentally, as nothing more than objects to be manipulated for our own gain. Etc.

I need to be very, very, very careful here: I am making a small and quite specific point, which is that none of these arguments captures what Marx is trying to say in the section on the fetish. I am not saying that Marx never makes points like those above – in places, even during the argument about the fetish, he will. And I am not dismissive of the potential importance of such arguments as important issues for critical analysis and as pivotal rallying-cries for political mobilisation.

I am saying that these arguments as attempts to articulate the notion of commodity fetishism are missing some of the strategic intent of this section of Marx’s text. The reading I am offering here is intended to drill in on a sometimes overlooked arc in this first chapter, to draw attention to how the entire chapter revolves around a series of reflections on forms of perception that attribute supersensible essences, governed by invisible laws, to things and to people. Such forms of perception, I am suggesting, are the “target” that the term “commodity fetishism” is trying to hit.

Understanding the argument in this way clarifies what was going on in the earlier sections of this chapter – in which Marx was deploying forms of thought that attribute supersensible essences to things and people, and then claiming to deduce laws from this starting point, in order to set the stage (hat tip john hutnyk) for the critique of such forms of thought. This interpretation makes sense of the first chapter as a reasonably unified argument, driving all along toward the critique of commodity fetishism. At the same time, this reading begins to suggest the power of Marx’s critique as a theory of modernity, and as a critical social theory that reaches far beyond a critical analysis of an “economic dimension” of modern society.

I have to plunge into marking first-year economics essays now – something that I suspect will see me longing for a bit of “critical economics” by the time I’m done. I’ll try to come back to this arc later in the week – I have to decide whether to plunge back into the minutiae of the sections of the chapter I’ve skipped across, or whether I’ve said as much as I have to say on this chapter for now, and should move forward in the text…

The previous posts in this series are:

Fragment on Textual Strategy in Capital

Reflections on the “Greatest Difficulty”

Nature and Society

Value and Abstract Labour as Real Abstractions

Capital, Volume 1, Chapter 1: Value and Abstract Labour as Real Abstractions

Those who have been following this discussion closely enough to read along in the comments, know that I have been struggling to work out how to write this post. The main thing I’ve been wrestling with is how to write something that captures the concepts I think Marx was trying to express, while also giving some sense of why Marx expresses those concepts in the style that he does. My sense is that the style of these early sections of Capital – the form of presentation or the way in which the concepts are unfolded and defended in the first couple of sections of the chapter in particular – is intentionally not really adequate to the concepts these sections purport to express. In fact, the form of presentation in these early sections actually contradicts some of the specific claims that Marx will make later in this same chapter. This leaves the reader in the very strange position of trying to decide whether Marx is wildly inconsistent, or whether there is something very strange going on here at the level of presentational strategy. What I want to do here is try to express how I have threaded my way through this decision.

My way of trying to understand this text is to view the entire chapter as building toward the argument about commodity fetishism (I assume everyone would agree with this), but then to take the – perhaps more controversial? (how common is the reading I’m unfolding here?) – step of suggesting that elements of the earlier sections of the chapter are actually illustrations of fetishised forms of thought. Marx begins this chapter, in other words, within the fetish – within in a form of thought that attributes particular social properties to material objects. Thus: the wealth of capitalism presents itself as a vast accumulation of commodities – a commodity has a dual character – therefore we can deduce that the labour that goes into the production of a commodity has a dual character – therefore we can see how the process of exchange and the development of money expresses what we have discussed as a tacit, internal duality within commodities. The arc of the first few sections of the chapter unfolds in this way, with occasional interstitial comments that suggest that something else must be in play.

As I suggested to Nate in the comments below, I think this arc is “backwards” from the standpoint Marx unfolds later in this same chapter: these early sections unfold as though objects (commodities) possess supersensual properties that then become manifest when we toss those objects into relations with one another: what could this presentation be describing, if not precisely the form of thought Marx is criticising in the section on the fetish? I therefore think we need to see the concluding section on the fetish as reacting back critically upon the earlier sections of this chapter, revealing these sections to be expressing forms of thought predicated on fetishised modes of experience.

So, reviewing some of the material I covered in the previous post, when Marx tries to analyse why exchange is possible, he unfolds this argument as though there must be some common non-material property congealed in the objects themselves, that provides a universal, quantifiable essence that enables objects to be exchanged in whatever proportions ensure that they contain the same quantity of this supersensible substance. Marx then presents an argument that claims to deduce (through a decontextualised application of reason that Marx himself will refute in the discussion of Aristotle in the third section of this chapter) that this common substance is labour. The labour that enables exchange, however, is not labour in its variegated concrete forms, because these diverse labouring activities have no more common identity than does the material dimension of the diverse commodities such concrete labour produces. Instead, concrete labouring activities also possess a cryptic supersensible property that cannot be identified when just examining the overt qualitative characteristics of the production process: the property of being “human labour in the abstract” – of being an aliquot portion of the (normative!) labour power of society as a whole:

The labour, however, that forms the substance of value, is homogeneous human labour, expenditure of one uniform labour power. The total labour power of society, which is embodied in the sum total of the values of all commodities produced by that society, counts here as one homogeneous mass of human labour power, composed though it be of innumerable individual units.

This homogeneous labour power is then allocated across the universe of all commodities produced, determining which kinds and which amounts, of all the diverse concrete labouring activities that are empirically undertaken and that generate concrete goods and services that comprise material wealth, get to “count as labour” under capitalism. Marx argues that the production of “human labour in the abstract” – of the “total labour power of society” – and its allocation among the universe of commodities, is determined by the labour power socially required, on average, to generate those use values for which there is a social demand. Empirical labouring activities that produce material goods for which there is insufficient social demand may not count as labour under capitalism, because they will not receive an aliquot portion of “human labour in the abstract” – no matter how much concrete effort has gone into their empirical production process. Empirical labouring activities that fall behind the socially average level of productivity may also experience a disjoint between the amount of time empirically spent in labouring activities, and the labour time that gets to “count as labour”.

“Value” is Marx’s name for the supersensible measure of the amount of labour power that “counts as labour” within particular commodities. The quantity of “Value” cannot be determined from any empirical property of a commodity or a labouring process taken in isolation: it is established only when goods are brought into relation with the entire universe of commodities through the process of exchange. Yet, in Marx’s account, “Value” is also not created within exchange – instead, the apparently random and arbitrary proportions in which commodities are exchanged are taken to express an underlying “lawlike” regularity that governs exchange in such a way as to distribute an impersonal compulsion to labour at socially average levels:

The character of having value, when once impressed upon products, obtains fixity only by reason of their acting and re-acting upon each other as quantities of value. These quantities vary continually, independently of the will, foresight and action of the producers. To them, their own social action takes the form of the action of objects, which rule the producers instead of being ruled by them. It requires a fully developed production of commodities before, from accumulated experience alone, the scientific conviction springs up, that all the different kinds of private labour, which are carried on independently of each other, and yet as spontaneously developed branches of the social division of labour, are continually being reduced to the quantitative proportions in which society requires them. And why? Because, in the midst of all the accidental and ever fluctuating exchange relations between the products, the labour time socially necessary for their production forcibly asserts itself like an over-riding law of Nature. The law of gravity thus asserts itself when a house falls about our ears. The determination of the magnitude of value by labour time is therefore a secret, hidden under the apparent fluctuations in the relative values of commodities. Its discovery, while removing all appearance of mere accidentality from the determination of the magnitude of the values of products, yet in no way alters the mode in which that determination takes place.

Marx’s own “position”, I would suggest, goes something like: we are doing something extremely strange with our collective practice under capitalism. We are behaving collectively as if there exists some supersensible entity called “human labour in the abstract” – a specific, bounded quantity of a homogeneous substance that exists apart from material wealth or the actual expenditure of human effort to achieve some determinate aim, and that comes to be congealed in material objects as “Value”. By behaving this way, we are, in effect, creating or enacting “abstract labour” and “Value” as real (albeit social) entities. We do this by unintentionally collectively enacting a situation in which the production and distribution of value is somehow the pivot around which much of our social and material reproduction revolves. This unintentional collective enactment of a supersensible realm of “real abstractions” (more on this term later), far from bringing into being a rational and demystified form of social life, generates its own distinctive mystifications:

…the existence of the things quâ commodities, and the value relation between the products of labour which stamps them as commodities, have absolutely no connection with their physical properties and with the material relations arising therefrom. There it is a definite social relation between men, that assumes, in their eyes, the fantastic form of a relation between things. In order, therefore, to find an analogy, we must have recourse to the mist-enveloped regions of the religious world. In that world the productions of the human brain appear as independent beings endowed with life, and entering into relation both with one another and the human race. So it is in the world of commodities with the products of men’s hands. This I call the Fetishism which attaches itself to the products of labour, so soon as they are produced as commodities, and which is therefore inseparable from the production of commodities.

For many reasons (I’ll come back to this more adequately in later posts), when we come to discover that such “real abstractions” are operating to constrain our behaviour, we don’t initially grasp that our own social practice is the origin point for these coercive abstract structures or patterns. Instead, we do what the political economists did: we interpret these supersensible, socially-constituted entities to be an “essence” intrinsically existing tacitly within more overtly-observable, “sensuous” empirical entities.

So we say that commodities possess a dual character – and then we analyse how that dual character that we take to be intrinsic, becomes manifest when commodities interact with one another on the market. We become sensitive to the possibility of a “material” world that operates according to supersensible laws whose existence can be inferred from observing patterns in the movements of material objects, and we begin to try to discover and to manipulate such “laws” instrumentally to human advantage. We become sensitive to the possibility that certain dimensions of social practice – dimensions associated with direct personal or intersubjective relations – are social (and therefore contingent on human practice and – potentially – contestable). We therefore collectively, unintentionally enact two mutually-differentiating, interpenetrating dimensions of social life: an “overtly social” realm of interpersonal relations, and an impersonal realm in which material objects are governed by invisible laws. Both realms are “social” – but not in the same way. And their mutual determination can render plausible a systematic trompe-l’œil in which one dimension of our social is taken not to be social at all.

There is much, much more to say here – I’m not doing the argument justice, both in the sense that I am skipping details that are present in this chapter, and in the sense that I am also skipping ahead to elements of the argument that are not yet evident from this chapter at all. I’ll try to come back to all of this more adequately as I have time. My goal for the moment is just to render plausible the notion that Marx might be aiming for a WTF? reaction in the early sections of Capital. Marx might expect his readers already to know the punchline – already to be “in” on the joke. Marx then takes us through an immanent exploration of this fetishised position anyway because the standards of immanent critique don’t allow him to dismiss fetishised forms of thought as “mere” errors – he has to show how and why they arise, and also how they point beyond themselves, suggesting the possibility for something like his own critical position. And he also has to give an account of how his own position is given immanently within the social context he is criticising. He doesn’t do any of these things completely in this first chapter, but I think this is the kind of argument he is trying to set up here, to prime the reader for what is to come. Perhaps there’s a point to be made here about what goes wrong when an author has to explain their own jokes – or, perhaps in this case, what goes wrong when an author desperately needed to explain their own jokes, but didn’t get around to doing it… At any rate…

More on all of this as I have the time…

The quotations here are taken from the version of the first chapter available online through the Marxists Internet Archive.

Previous posts in this series are:

Fragment on Textual Strategy in Capital

Reflections on the “Greatest Difficulty”

Nature and Society

Self-Quoting in Capital

So now I’m curious: in this discussion below, both Nate and The Constructivist have raised the question of why Marx quotes himself in the first sentence of Capital:

The wealth of those societies in which the capitalist mode of production prevails, presents itself as “an immense accumulation of commodities,” its unit being a single commodity. Our investigation must therefore begin with the analysis of a commodity.

The Constructivist has mentioned Keenan’s discussion of the same question, in Fables of Responsibility (around p. 104 in this edition).

I’ve offered my (very off the cuff!) guess here – or perhaps a little self-quoting will make this easier:

I don’t have a definitive take on the issue, but, given that I read Marx as self-consciously putting forward an immanent critical theory, the most straightforward thing Marx might have been doing in quoting himself, was treating himself as he treats the political economists: flagging himself, and the critical perspective he is putting forward in the text, as objects of analysis – hinting to the reader that this starting point is not a priori, but something that will eventually be embedded as the text unfolds. In this sense, he is treating himself symmetrically to how he treats the political economists, whose quotations he footnotes and occasionally brings into the main text, and whom he criticises for their failure to treat themselves as objects of analysis, in the same way that they treat older forms of thought that they criticise. So I would take that initial quotation as a quick signal that Marx is placing himself and his positions on the same plane that he will place the political economists – which means that he has to understand their errors as more than “mere” errors – as errors that were historically plausible given the circumstances in which they were working – and he also needs to position his insights as more than “mere” good thinking – he needs to explain why his insights have become plausible in his own historical period.

I’m curious whether others have an opinion on this question – or whether anyone knows of other secondary sources who have commented on this question.

While I’m posting on Marxian things, I should also mention Sinthome’s interesting post and discussion on “The Utopia of the Commodity– Revolution by Proxy”, and the discussion at Nate’s what in the hell… on a troublesome passage from the section on primitive accumulation.

Capital, Volume 1, Chapter 1: Nature and Society

Just a fragment tonight – very tired… A quick look at the introductory section of the first chapter of Capital, from the online version here.

Marx begins this chapter with what looks to be a fairly straightforward definition of the commodity:

The wealth of those societies in which the capitalist mode of production prevails, presents itself as “an immense accumulation of commodities,” its unit being a single commodity. Our investigation must therefore begin with the analysis of a commodity.

A commodity is, in the first place, an object outside us, a thing that by its properties satisfies human wants of some sort or another. The nature of such wants, whether, for instance, they spring from the stomach or from fancy, makes no difference. Neither are we here concerned to know how the object satisfies these wants, whether directly as means of subsistence, or indirectly as means of production.

Every useful thing, as iron, paper, &c., may be looked at from the two points of view of quality and quantity. It is an assemblage of many properties, and may therefore be of use in various ways. To discover the various uses of things is the work of history. So also is the establishment of socially-recognized standards of measure for the quantities of these useful objects. The diversity of these measures has its origin partly in the diverse nature of the objects to be measured, partly in convention.

The utility of a thing makes it a use value. But this utility is not a thing of air. Being limited by the physical properties of the commodity, it has no existence apart from that commodity. A commodity, such as iron, corn, or a diamond, is therefore, so far as it is a material thing, a use value, something useful. This property of a commodity is independent of the amount of labour required to appropriate its useful qualities. When treating of use value, we always assume to be dealing with definite quantities, such as dozens of watches, yards of linen, or tons of iron. The use values of commodities furnish the material for a special study, that of the commercial knowledge of commodities. Use values become a reality only by use or consumption: they also constitute the substance of all wealth, whatever may be the social form of that wealth. In the form of society we are about to consider, they are, in addition, the material depositories of exchange value.

Exchange value, at first sight, presents itself as a quantitative relation, as the proportion in which values in use of one sort are exchanged for those of another sort, a relation constantly changing with time and place. Hence exchange value appears to be something accidental and purely relative, and consequently an intrinsic value, i.e., an exchange value that is inseparably connected with, inherent in commodities, seems a contradiction in terms.

I’ve previously suggested that this opening definition is not meant to represent Marx’s own position, but is instead intended to express the way in which the wealth of capitalist societies is intuitively perceived by social actors embedded in this context. By examining the implications of these intuitive perceptions, Marx will gradually unfold more complex categories – with the intention, ultimately, of looping back and “grounding” the sorts of definitions with which he starts: showing that these apparently simple and pristine beginnings presuppose, and express, the much more complex social and historical process that he will analyse throughout Capital.

In this opening passage, Marx suggests that capitalism presents itself in terms of a bifurcation between nature and society. On the one hand, in discussing use value, Marx suggests that capitalism presents us with (or sensitises us to the possibility of) a “thingly”, objective, material world that possesses timeless intrinsic properties. We can study and eventually uncover the properties of material objects over time, and we can also project human desires and meanings onto them, but the material world fundamentally sits “outside” of us.

On the other hand, in moving from use value to exchange value, Marx suggests that capitalism presents us with (or sensitises us to the possibility of) our current social arrangements as only the most recent instance in an ever-changing, accidental, relativistic historical succession – a succession of human conventions that may wrap themselves arbitrarily around, or project themselves contingently on, the “outside” material world. The material world figures by contrast as intrinsically devoid of anthropological determinations, as what remains behind when arbitrary human social arrangements have been stripped away – as a “true” content, which then comes to be covered over or masked by arbitrary social forms.

Why do I suggest that this is not Marx’s own position? Am I suggesting that Marx doesn’t believe that human social conventions are historical to their core? Am I positioning him as some kind of radical constructivist who sees in the natural world nothing but a human invention? No, to both questions. But something about the ways in which nature and society “give” themselves to us intuitively under capitalism, strikes Marx as in need of further investigation: after he outlines the definitions above, he invites: “Let us consider the matter a little more closely”.

Where he goes next is to a series of deductions or “conceptual abstractions” (the significance of this term will become clearer over time). Here, once again, I would suggest that Marx is not entirely speaking in his own voice, but is instead attempting to remain immanent to the phenomenological perspective he is trying to analyse.

So, still speaking in this immanent voice, Marx begins to analyse the process of exchanging two commodities. He presents an argument that runs along the following lines: The material forms of the commodities you intend to exchange are qualitatively different from one another: the goods aren’t in any qualitative sense the same. You would hardly desire to exchange one for the other if the goods were identical: what would be the benefit? Yet exchange makes an equation: it determines that the goods must be exchanged for one another in some specific quantitative proportion – the goods must therefore be “equal” in some sense.

But what is being equated? Not the determinate, qualitative, material properties of the goods – we have already established that we do not exchange goods that are qualitatively the same and, Marx adds, in a context in which any good can in principle be exchanged for any other, we are clearly willing to abstract from every material property of a good for purposes of exchange.

If we aren’t equating a material property of the goods, then we must be equating something else – Marx suggests that this must be a purely social property – without “an atom of use value”. Marx nominates the social property of being the products of human labour, “arguing” (remembering, again, that we aren’t yet reading Marx’s own position, but rather his exposition of what is “given” to a particular phenomenological perspective) that the only possible thing diverse commodities could have in common, is their common origin in human labour.

This common property, however, can’t refer to any specific kind of labour: if the determinate qualitative characteristics of particular labouring activities were taken into account, then we still wouldn’t have a common property, something homogeneous and uniform, to render possible the exchange. We must therefore be talking about labour abstracted from all its variegated concrete forms – abstract labour – a measure of the human labour power congealed in particular objects – a “social substance” that Marx calls “Value”.

But how is this labour power measured, such that it becomes possible to equate commodities in various exact proportions? Marx suggests (again not in his own voice) that abstract labour, devoid as it is of any qualitative characteristics, can only be measured by its duration – as labour-time. The measurement of the labour-time congealed in particular commodities enables the equation required for exchange.

Yet different amounts of labour are expended in the production of particular goods of the same type – and, if the actual labour time empirically invested in production were to determine the Value of a good, then the least efficient production process would generate the greatest Value. What prevents such a thing from happening? Marx answers: Value is not measured by the labour time empirically spent in particular individual acts of production, but rather by the labour time required, on average, in a given historical and social context, to produce a particular good.

Value therefore acts as a coercive social standard, which operates independently of particular empirical processes of production, which may be more or less efficient than the social norm expressed in Value. Producers labour as they do, at the level of productivity their skill and equipment allow. Value then determines how much of the labour they empirically spend in production, gets to “count as labour”. The producers can’t reliably know in advance how much of their labour will “count”:

The value of a commodity would therefore remain constant, if the labour time required for its production also remained constant. But the latter changes with every variation in the productiveness of labour. This productiveness is determined by various circumstances, amongst others, by the average amount of skill of the workmen, the state of science, and the degree of its practical application, the social organisation of production, the extent and capabilities of the means of production, and by physical conditions.

And, even where producers have reasons to suspect that much of their labour won’t “count”, they may be powerless to avert the situation:

For example, the same amount of labour in favourable seasons is embodied in 8 bushels of corn, and in unfavourable, only in four. The same labour extracts from rich mines more metal than from poor mines.

The labour time socially necessary is that required to produce an article under the normal conditions of production, and with the average degree of skill and intensity prevalent at the time. The introduction of power-looms into England probably reduced by one-half the labour required to weave a given quantity of yarn into cloth. The hand-loom weavers, as a matter of fact, continued to require the same time as before; but for all that, the product of one hour of their labour represented after the change only half an hour’s social labour, and consequently fell to one-half its former value.

In summarising Marx’s text above, I have suggested several times that he is not quite speaking in his own voice: I should clarify here the sense in which I mean this. Marx does retain the notion that socially-average labour-time constitutes the “social substance” of the Value congealed within commodities. The voicing in this section – the deductive form of the presentation that suggests that this social puzzle could be reasoned through with a detached and decontextualised logic – is something Marx will explicitly call into question in section 3, by asking the simple question of why, if logical reasoning were all that were required to deduce the existence of Value, Aristotle rejected the notion and viewed market exchange as a mere “makeshift for practical purposes”. As the chapter unfolds, Marx will therefore suggest that something other than a “conceptual abstraction” is at stake in the recognition of Value – that this conceptual breakthrough of political economy may owe an unrecognised debt to historical shifts – specifically to the constitution of a “real abstraction” enacted in collective practice.

More on the notion of a real abstraction, the concept of abstract labour, and the argument about the fetish (which will bring us back to the nature/society dichotomy with which I started this piece), as I have the time…

The previous instalments in this series are:

Fragment on Textual Strategy in Capital

Reflections on the “Greatest Difficulty”

Capital, Volume 1, Chapter 1: Reflections on the “Greatest Difficulty”

In the Preface to the first German edition of Capital, Marx notes:

Every beginning is difficult, holds in all sciences. To understand the first chapter, especially the section that contains the analysis of commodities, will, therefore, present the greatest difficulty.

Marx begins Capital with a chapter on commodities. Why this beginning? And what kind of difficulty, exactly, does this beginning present?

The other day, writing on the textual strategy in Capital, I suggested that one of the things that makes this text difficult – far more difficult, in fact, that the text appears to be at first glance – is that Marx starts with an immanently voiced presentation that aims to present nothing, initially, other than the forms of phenomenological experience “given” immanently within capitalism, and expressed by political economy (and other forms of thought Marx wishes to embed). I suggested that Marx starts from these forms of “givenness”, and then gradually unfolds other, more complex, categories – trying to make the case that the possibility for these more complex categories is already presupposed by the initial forms of “givenness” with which he begins. The strategic intention here is complex.

On one level – and over the course of Capital as a whole – Marx will suggest that the initial, apparently simple and “primitive” categories with which he begins, themselves could not exist – would not be “given” – without the whole complex social structure that Marx proceeds to analyse in the rest of the text. These simple initial categories, from which Marx appears to “deduce” more complex categories in the opening sections of Capital, are thus gradually revealed over the course of the argument to be products or end results of a process of historical development, rather than decontextualised and ahistorical starting points of Marx’s analysis. These products, however, are also productive: the results of this historical process provide the materials (“subjective” and “objective” – practical) to point beyond the process that produced them.

Which brings us to the other strategic intention of this mode of argument: Marx is trying to engage in an immanent social critique – and therefore needs to show that capitalism, in reproducing itself, also generates potentials that can react back on this process of reproduction and therefore ground the potential for transformative practice and critique. The immanent voicing of the text is one of the ways that Marx tries to flag, on a stylistic level, that this kind of immanent social critique is possible: by showing how phenomenological experiences that are part-and-parcel of capitalism – that presuppose capitalism and are themselves demonstrated to be the historical products of this social system – also and necessarily (if tacitly and unintentionally) express the contradictory potentials of this social form, Marx is trying to suggest that we do not need to reach outside capitalism to overcome this social form: that the resources necessary for transformation are already present, generated within that social form itself.

This concern with immanent voicing explains why Marx doesn’t begin his presentation somewhere else: with, for example, a declaration that capitalism is unjust, or a call to revolutionary arms, or a polemic about the conceptual limitations of political economy. Instead, he starts within capitalism – with the practices and forms of thought given by, and intuitive within, this system. He then gradually shows how these practices and forms of thought themselves betray the possibility, first, for us to understand their own intuitiveness – for us to grasp how these specific givens are given – and, second, for us to criticise these givens as partial, with reference to other perspectives that can also be shown to be immanently generated within the same social field – other perspectives whose existence is, in fact, implied by the partial perspectives expressed by political economy.

As previously discussed, the strategy here is Hegelian – with theoretical concerns that interact in complex ways with principles set out in discussions like this one, from Hegel’s Phenomenology:

Among the many consequences that follow from what has been said, it is of importance to emphasize this, that knowledge is only real and can only be set forth fully in the form of science, in the form of system; and further, that a so-called fundamental proposition or first principle of philosophy, even if it is true, is yet none the less false just because and in so far as it is merely a fundamental proposition, merely a first principle. It is for that reason easily refuted. The refutation consists in bring out its defective character, and it is defective because it is merely the universal, merely a principle, the beginning. If the refutation is complete and thorough, it is derived and developed from the nature of the principle itself, and not accomplished by bringing in from elsewhere other counter assurances and chance fancies. It would be strictly the development of the principle, and thus the completion of its deficiency, were it not that it misunderstands its own purport by taking account solely of the negative aspect of what it seeks to do, and is not conscious of the positive character of its process and result. The really positive working out of the beginning is at the same time just as much the very reverse, it is a negative attitude towards the principle we start from, negative, that is to say, of its one-sided form, which consists in being primarily immediate, a mere purpose. It may therefore be regarded as a refutation of what constitutes the basis of the system; but more correctly it should be looked at as a demonstration that the basis or principle of the system is in point of fact merely its beginning. (24 – bold text mine)

Hegel presents here the notion of a form of “refutation” or critique that is not simply an abstract “negation” – that does not simply reject what it sets out to criticise. Instead, critique takes the form of unfolding, from what initially appears to be a first principle or a simple, immediate universal, a demonstration of the way in which the “first principle” actually immanently undermines, or symptomatically reveals the inadequacy of, its own self-understanding as a “basis”. The unfolded analysis thus enables a critique of the perception that something is a “first principle”, but in a manner that preserves or “grounds” that “first principle” by determining it as a moment or partial perspective within an overarching system.

I’m sure this clarifies everything for everyone… ;-P My main point here is simply to gesture to some of the ways in which Marx’s vision of critique – and his presentational style – is not individually idiosyncratic, but can be situated in relation to Marx’s dialogue with Hegel’s work. The initial passages of Capital can most productively be read, I am suggesting, with certain Hegelian presentational and analytical principles in mind. Passages like the following, with which Hegel begins his discussion of Sense-Certainty, suggest some of what is involved. Hegel writes:

THE knowledge, which is at the start or immediately our object, can be nothing else than just that which is immediate knowledge, knowledge of the immediate, of what is. We have, in dealing with it, to proceed, too, in an immediate way, to accept what is given, not altering anything in it as it is presented before us, and keeping mere apprehension (Auffassen) free from conceptual comprehension (Begreifen). (90)

Hegel then proceeds (and not just in this section, but each time he moves to a new phenomenological perspective) to remind his reader that they cannot have direct recourse to the “for us” from whose perspective the text has actually been written: that they must instead unfold all insights immanently, as these would be given to each shape of consciousness under consideration. Look, for example, at the shifts between “we” and “it”, and at the use of words like “appear” and “seems” and “given”, in this passage from Phenomenology – looking not so much for the contents of the argument Hegel is trying to make here (much of which I’ve excised for brevity), but for the standards of argument that Hegel puts into play:

The concrete content, which sensuous certainty furnishes, makes this prima facie appear to be the richest kind of knowledge, to be even a knowledge of endless wealth–a wealth to which we can as little find any limit when we traverse its extent in space and time, where that content is presented before us, as when we take a fragment out of the abundance it offers us and by dividing and dividing seek to penetrate its intent. Besides that, it seems to be the truest, the most authentic knowledge: for it has not as yet dropped anything from the object; it has the object before itself in its entirety and completeness….

92. But, when we look closely, there is a good deal more implied in that bare pure being, which constitutes the kernel of this form of certainty, and is given out by it as its truth. A concrete actual certainty of sense is not merely this pure immediacy, but an example, an instance, of that immediacy….

93. It is not only we who make this distinction of essential truth and particular example, of essence and instance, immediacy and mediation; we find it in sense-certainty itself, and it has to be taken up in the form in which it exists there, not as we have just determined it. One of them is put forward in it as existing in simple immediacy, as the essential reality, the object. The other, however, is put forward as the non-essential, as mediated, something which is not per se in the certainty, but there through something else, ego, a state of knowledge which only knows the object because the object is, and which can as well be as not be. The object, however, is the real truth, is the essential reality; it is, quite indifferent to whether it is known or not; it remains and stands even though it is not known, while the knowledge does not exist if the object is not there.

94. We have thus to consider as to the object, whether in point of fact it does exist in sense-certainty itself as such an essential reality as that certainty gives it out to be; whether its meaning and notion, which is to be essential reality, corresponds to the way it is present in that certainty. We have for that purpose not to reflect about it and ponder what it might be in truth, but to deal with it merely as sense-certainty contains it.

95. Sense-certainty itself has thus to be asked: What is the This? (90-95, bold text mine)

In passages like this, Hegel outlines standards for an immanently-unfolded argument – in particular, the standard that the argument must proceed only on the basis of what is given to whatever shape of consciousness is being analysed. To meet these standards, Hegel provides long, immanently-voiced analyses, which seek to describe what is available from within particular perspectives. These immanently-voiced sections are then used critically – to show how each particular perspective points beyond itself – how each perspective suggests the necessity for something that, at the outset, would have appeared alien to the perspective under investigation.

Hegel isn’t, though, particularly shy about telling his readers what his presentational strategy is – what these immanently-voiced passages are intended to achieve. He also doesn’t hesitate to editorialise in the margins of his immanently-voiced argument, foreshadowing the conclusions the immanent analysis will draw.

Marx, in a sense, takes the issue of immanent voice more seriously – making his text far more unforgiving of readers who overlook the technical meaning or precise strategic intention of certain key phrases that bookend his presentation. Thus, in the very first sentence of chapter one, Marx thinks he is providing sufficient warning of his immanently-voiced, phenomenologically embedded, approach, when he begins:

The wealth of those societies in which the capitalist mode of production prevails, presents itself as “an immense accumulation of commodities,” its unit being a single commodity. Our investigation must therefore begin with the analysis of a commodity. (bold text mine)

He offers other subtle flags as he unfolds new categories:

Exchange value, at first sight, presents itself as a quantitative relation, as the proportion in which values in use of one sort are exchanged for those of another sort, a relation constantly changing with time and place. Hence exchange value appears to be something accidental and purely relative, and consequently an intrinsic value, i.e., an exchange value that is inseparably connected with, inherent in commodities, seems a contradiction in terms. (bold text mine)

After these initial categories of use value and exchange value are introduced, Marx proceeds to offer what look like either deductive or definitional elaborations from those initial categories. The text is often read as though Marx is setting out his “first principles” or the key terms on which he will rely subsequently in the text, and then proceeding from these “incontrovertible” or “certain” foundations, to more complex aspects of his own analysis. I am suggesting instead that Marx is not speaking in his own voice much at all in these early passages – Hegel’s chatty stage whispers on textual strategy, as well as his constant foreshadowings of how things look “for us”, are largely missing from Marx’s text, while Marx tries to explore how capitalism “gives” itself to us – attempting to express the forms of perception and thought and practice that appear intuitive to people individuated within this context. He will then try – as Hegel also does – to demonstrate how these “givens” ultimately react back on themselves, undermining their givenness as “first principles”, and suggesting the need for a form of analysis that will instead capture them as products and as partial.

So a passage like the following, on use value, looks like nothing more than a definition – and a fairly obvious and intuitive one at that:

A commodity is, in the first place, an object outside us, a thing that by its properties satisfies human wants of some sort or another. The nature of such wants, whether, for instance, they spring from the stomach or from fancy, makes no difference. Neither are we here concerned to know how the object satisfies these wants, whether directly as means of subsistence, or indirectly as means of production.

Every useful thing, as iron, paper, &c., may be looked at from the two points of view of quality and quantity. It is an assemblage of many properties, and may therefore be of use in various ways. To discover the various uses of things is the work of history. So also is the establishment of socially-recognized standards of measure for the quantities of these useful objects. The diversity of these measures has its origin partly in the diverse nature of the objects to be measured, partly in convention.

The utility of a thing makes it a use value. But this utility is not a thing of air. Being limited by the physical properties of the commodity, it has no existence apart from that commodity. A commodity, such as iron, corn, or a diamond, is therefore, so far as it is a material thing, a use value, something useful. This property of a commodity is independent of the amount of labour required to appropriate its useful qualities. When treating of use value, we always assume to be dealing with definite quantities, such as dozens of watches, yards of linen, or tons of iron. The use values of commodities furnish the material for a special study, that of the commercial knowledge of commodities. Use values become a reality only by use or consumption: they also constitute the substance of all wealth, whatever may be the social form of that wealth. In the form of society we are about to consider, they are, in addition, the material depositories of exchange value.

Only in the footnotes – and in a typically wry way – does Marx explicitly hint that “we” are not meant to agree fully with the definitional, and tacitly ahistorical, presentation offered in the main text. Marx’s footnotes offer a subterranean narrative quite distinct from the more immediately striking, overt narrative presented in the eye-catching centre of vision in the main text. As always, for Marx, the style of presentation mirrors the content of the critique: critical perspectives thus are available, even in these earliest moments of the text – but what is most immediately striking, and what therefore tends to distract the eye and the mind, is the central and textually prominent discussion of those forms of perception and thought that most evidently “give” themselves to awareness under capitalism – the reader has to work to unearth the counter-narrative suggested by the structure of the text. The footnotes map, for the most part without any explicit commentary on the strategic intention of this textual strategy, the earliest historical moment at which each position recounted in the text came to be articulated. This citational strategy got Marx into trouble in his own time, as hostile readers took Marx to be illegitimately citing these historical sources as support for his own views. Engels eventually attempts to clarify Marx’s strategic intent in the Preface to the 3rd German edition:

In conclusion a few words on Marx’s art of quotation, which is so little understood. When they are pure statements of fact or descriptions, the quotations, from the English Blue books, for example, serve of course as simple documentary proof. But this is not so when the theoretical views of other economists are cited. Here the quotation is intended merely to state where, when and by whom an economic idea conceived in the course of development was first clearly enunciated. Here the only consideration is that the economic conception in question must be of some significance to the history of science, that it is the more or less adequate theoretical expression of the economic situation of its time. But whether this conception still possesses any absolute or relative validity from the standpoint of the author or whether it already has become wholly past history is quite immaterial. Hence these quotations are only a running commentary to the text, a commentary borrowed from the history of economic science, and establish the dates and originators of certain of the more important advances in economic theory.

In stressing such strategic elements of Marx’s presentational strategy, I don’t wish to imply that Marx never breaks with his immanent voice. Increasingly he will do so in the text itself – initially mainly in transitional points, but the immanent analysis is of course intended to demonstrate that it is possible to unfold, from within what is “given” by capitalism, the categories that allow for a more explicit expression of Marx’s own critical standpoint in the main text. Even very early, Marx can’t always restrain himself, and he periodically bursts into sarcastic meta-commentary in the footnotes on the historical sources he cites. In the third footnote of the first chapter, for example – the footnote that hangs off the sentence “To discover the various uses of things is the work of history.” – Marx couples his historical citation with a dryly sarcastic observation:

“Things have an intrinsick vertue” (this is Barbon’s special term for value in use) “which in all places have the same vertue; as the loadstone to attract iron” (l.c., p. 6). The property which the magnet possesses of attracting iron, became of use only after by means of that property the polarity of the magnet had been discovered. (bold text mine)

The meta-commentary Marx is making here is extremely subtle (and also, I should note, isn’t phrased as precisely as Marx will put similar points in other places). I draw attention to it, however, because recognising that a meta-commentary is being made – already, in these opening passages – becomes important for fleshing out what Marx is trying to do in pivotal (but often misread) sections like the later discussion of commodity fetishism. Let’s spend a bit of time with this footnote.

In the main text, the form of thought being analysed – the form of thought that reflects the way things “present” in capitalist societies – looks at first glance like a historicising form of thought: how could it not be historicising, to point out that discovering the uses of things is the “work of history”?

And yet. The concept of “discovery”, as a way of understanding historical change, has strangely dehistoricising implications: for something to be “discovered”, it must already somehow be present – existent – waiting to be unveiled. “History” here – thematised as “discovery” – is a process that uncovers something that is already there – a process of unveiling – a process of uncovering what lies in wait within nature, which itself is thematised as possessing timeless and invariant traits, and as intrinsically devoid of anthropological determinations.

Marx’s sarcastic aside re-presents the loadstone’s properties, not as some timeless “intrinsick vertue” patiently waiting to be unveiled, but as something actively constituted as relevant for us by the way in which a particular kind of interaction with a natural object comes to be rendered socially meaningful in practice – in use, through the emergence of a particular kind of collective activity. Marx hints here at the importance of situating what present themselves as “discoveries” of the timeless and intrisic properties of things, in the context of shifts in collective practice that render socially meaningful a sensitivity to some specific selection from among the universe of determinate potentials tacit within natural objects.

Marx’s comments here are reminiscent of a criticism that he will repeatedly make of the political economists: that their specific mode of historicisation fails to be reflexive – that it falls short of treating their own position as fully historical – that it captures that capitalism is historically-emergent, but still somehow treats capitalism as a “natural” form of society – that it treats its insights as “discoveries” of principles that are “given”, but fails to analyse the determinate ways in which that particular given comes to be given, in this specific form, with determinate properties that necessitate that what is given possesses non-explicit properties that need to be “discovered” in a particular way.

Marx will hit this same point over and over again as he unfolds his analysis: he is constantly suggesting, on many different layers in the text, that qualitative characteristics that we intuitively take to be “natural” – more specifically, that we take to be material – are instead social. He means this in a more fundamental sense than may be apparent at first glance. As we will see when we reach the section on commodity fetishism, Marx will suggest that the very notion of a “material world” must be understood as a product of human practice – not in the sense that all of nature can be reduced to a human construction, but in the sense that the intuitive gestalt of “materialism” – of “matter” – of a natural world that exists independently of human cultural and social determinations – is the distinctive cultural and social determination that our society projects onto “nature”. (Describing this in terms of “projection” is a simplification – the term isn’t fully adequate to the requirements of an immanent critique. To avoid overcomplication at this stage in the analysis, however, I’ll stay with this expression for now, with the caveat that this issue will need to be revisited more adequately at a later point.) Marx will try to argue that we do this, of course. But, more importantly (since many theorists will “declare” the notion of “materialism” to be a cultural construct – and thus offer an “abstract negation” or ungrounded negation or oppositional stance to the notion of materialism), Marx will also try to show how we do this – why this is not a contingent or arbitrary form of perception and thought, but is instead deeply (if unintentionally) embedded in specific forms of collective practice. It is this that makes his account a determinate negation of materialism.

More on this, and other elements of the text, next time I return to this theme…

[Citational note: Unless otherwise noted, all quotations from Capital are taken from the text of Chapter 1, Section 1 available at the Marxists Internet Archive; all quotes from Hegel’s Phenomenology are from the online text here.]

Fragment on Textual Strategy in Capital

Marx is, as a rule, sparse in his explicit methodological reflections. Major sections of Capital often begin in the voice of a position Marx will subsequently invert, such that what initially appear to be abstract definitions integral to Marx’s own stance, are revealed in later sections to be forms of thought Marx is trying to criticise. Even where this critical edge is recognised, it can be unclear what sort of critique Marx is offering: his frequent use of metaphors of moving from light to darkness, or from surface to depth, can suggest that Marx is engaging in a form of “abstract negation” – that he is trying to unmask and debunk “surface” illusions against a more essential “depth” reality. Thus, a particularly common reading of Marx is that he is criticising the illusory values of the sphere of circulation – which Marx delightfully describes as “Freedom, Equality, Property and Bentham” – against the authoritarian realities of production.

At pivotal transition points in the text, however, Marx suggests that another strategy may be in play. His central analytical category – value – is expressly described at key moments as a social form that is expressed in both circulation and production, generated in both, but reducible to neither. I discussed one example of this at the end of the recent post on Marx’s discussion of the general formula for capital. Another, more famous, example can be found in the discussion of commodity fetishism in section 4 of chapter 1:

A commodity appears, at first sight, a very trivial thing, and easily understood. Its analysis shows that it is, in reality, a very queer thing, abounding in metaphysical subtleties and theological niceties. So far as it is a value in use, there is nothing mysterious about it, whether we consider it from the point of view that by its properties it is capable of satisfying human wants, or from the point that those properties are the product of human labour. It is as clear as noon-day, that man, by his industry, changes the forms of the materials furnished by Nature, in such a way as to make them useful to him. The form of wood, for instance, is altered, by making a table out of it. Yet, for all that, the table continues to be that common, every-day thing, wood. But, so soon as it steps forth as a commodity, it is changed into something transcendent. It not only stands with its feet on the ground, but, in relation to all other commodities, it stands on its head, and evolves out of its wooden brain grotesque ideas, far more wonderful than “table-turning” ever was.

The mystical character of commodities does not originate, therefore, in their use value. Just as little does it proceed from the nature of the determining factors of value. For, in the first place, however varied the useful kinds of labour, or productive activities, may be, it is a physiological fact, that they are functions of the human organism, and that each such function, whatever may be its nature or form, is essentially the expenditure of human brain, nerves, muscles, &c. Secondly, with regard to that which forms the ground-work for the quantitative determination of value, namely, the duration of that expenditure, or the quantity of labour, it is quite clear that there is a palpable difference between its quantity and quality. In all states of society, the labour time that it costs to produce the means of subsistence, must necessarily be an object of interest to mankind, though not of equal interest in different stages of development. And lastly, from the moment that men in any way work for one another, their labour assumes a social form.

Whence, then, arises the enigmatical character of the product of labour, so soon as it assumes the form of commodities? Clearly from this form itself.

Marx explicitly rejects here the notion that either of the intuitive phenomenal categories put forward by classical political economy – use-value or exchange-value – offers a clear insight into the distinctive qualitative characteristics Marx wants to grasp through the category of value. He gestures quickly to the factors in terms of which the political economists claim to explain use value and exchange value – the satisfaction of human wants, the expenditure of human labour power measured by time, and the process of producing for others – and argues that nothing intrinsic to these factors accounts for the peculiar qualitative characteristics of value.

The textual strategy here – the motivating concept of critique – is Hegelian. Marx is not abstractly negating the categories of use value or exchange value – he is not dismissing the forms of thought characteristic of political economy as “mere” illusion. He is instead setting up for an argument that the phenomenological self-understanding of political economy both expresses, and yet fails to grasp, the social field in which this form of thought is embedded.

Marx is here beginning to position the phenomenological self-understanding of political economy as a necessary moment that arises within, and expresses determinate aspects of, an overarching process. Marx’s critique thus takes the form of embedding the phenomenological self-understanding of political economy – of demonstrating that he can make sense of why the forms of perception and thought characteristic of political economy arise – while also revealing this phenomenological self-understanding as partial and inadequate to grasping the overarching process within which it is but a moment. To be adequate to this form of critique, Marx will need to unfold an explanation of competing forms of thought that reveals them to be determinate moments within an overarching process, while also providing an account of that overarching process that reflexively explains the standpoint for Marx’s own critique.

If this textual strategy is not recognised, much of the strategic intention of the first volume of Capital remains opaque. Marx spends an enormous amount of time in this text on careful logical “derivations” and immanently-voiced presentations of various elements of classical political economy (and other forms of thought he is also trying to embed) – only then to jump abruptly into passages that directly contradict what he was carefully outlining in earlier sections. Such rapid shifts can seem deeply perplexing, if the abrupt transitions aren’t seen as transitions from an immanently-voiced presentation, into the perspective offered by Marx’s own developed critique. The strategy is similar to Hegel’s constant movement between, e.g., “in itself” and “for us” in Phenomenology – carefully exploring what can be seen from a very particular phenomenological perspective, in order to demonstrate that these phenomenological perspectives actually can’t make sense of – are not adequate to – what they purport to grasp, and are therefore constantly expressing or symptomatically betraying the existence of a more adequate perspective – pointing toward the “for us” that is the actual standpoint from which the text is written. Hegel stage whispers more often, and provides a more explicit account of the point of this textual strategy – just to take one example, in the Preface to Phenomenology:

But contradiction as between philosophical systems is not wont to be conceived in this way; on the other hand, the mind perceiving the contradiction does not commonly know how to relieve it or keep it free from its onesidedness, and to recognize in what seems conflicting and inherently antagonistic the presence of mutually necessary moments.

The demand for such explanations, as also the attempts to satisfy this demand, very easily, pass for the essential business philosophy has to undertake. Where could the inmost truth of a philosophical work be found better expressed than in its purposes and results? and in what way could these be more definitely known than through their distinction from what is produced during the same period by others working in the same field? If, however, such procedure is to pass for more than the beginning of knowledge, if it is to pass for actually knowing, then we must, in point of fact, look on it as a device for avoiding the real business at issue, an attempt to combine the appearance of being in earnest and taking trouble about the subject with an actual neglect of the subject altogether. For the real subject-matter is not exhausted in its purpose, but in working the matter out; nor is the mere result attained the concrete whole itself, but the result along with the process of arriving at it. The purpose of itself is a lifeless universal, just as the general drift is a mere activity in a certain direction, which is still without its concrete realization; and the naked result is the corpse of the system which has left its guiding tendency behind it. Similarly, the distinctive difference of anything is rather the boundary, the limit, of the subject; it is found at that point where the subject-matter stops, or it is what this subject-matter is not. To trouble oneself in this fashion with the purpose and results, and again with the differences, the positions taken up and judgments passed by one thinker and another, is therefore an easier task than perhaps it seems. For instead of laying hold of the matter in hand, a procedure of that kind is all the while away from the subject altogether. Instead of dwelling within it and becoming absorbed by it, knowledge of that sort is always grasping at something else; such knowledge, instead keeping to the subject-matter and giving itself up to it, never gets away from itself. The easiest thing of all is to pass judgments on what has a solid substantial content; it is more difficult to grasp it, and most of all difficult to do both together and produce the systematic exposition of it.

The beginning of culture and of the struggle to pass out of the unbroken immediacy of naive Psychical life has always to be made by acquiring knowledge of universal principles and points of view, by striving, in the first instance, to work up simply to the thought of the subject-matter in general, not forgetting at the same time to give reasons for supporting it or refuting it, to apprehend the concrete riches and fullness contained in its various determinate qualities, and to know how to furnish a coherent, orderly account of it and a responsible judgment upon it. This beginning of mental cultivation will, however, very soon make way for the earnestness of actual life in all its fullness, which leads to a living experience of the subject-matter itself; and when, in addition, conceptual thought strenuously penetrates to the very depths of its meaning, such knowledge and style of judgment will keep their clue place in everyday thought and conversation. (2-4)

Marx is much less explicit that he also regards critique as a detailed immanent working out of the necessity of the positions being criticised, rather than as a rejection of the purpose or results of a competing approach (the conventional notion of “critique”, which Hegel sarcastically labels “a dogmatic assurance exactly like the view we are opposing” (6)). Marx’s methodological subtlety occasionally provokes Engels to remind Marx that not all readers will be well-versed in Hegelian dialectics, and to demand a much clearer and more direct form of presentation. While Marx does explicitly voice his “for us” – tipping explicitly the standpoint of his critique – periodically in the text, he tends to do this in the interstices, leaving the reader to work through a great deal of immanently-voiced material whose strategic point has not yet been flagged explicitly in the text.

***

No time to edit – horror teaching day today… Hopefully I can revisit the section on the fetish in more detail soon…

Circulating Perspectives

Marx begins his discussion of the general formula for capital with an apparently strange distinction, between “money that is money only, and money that is capital”. In Marx’s account, money that “is money only”, is money in its role as a medium of exchange in a circuit in which commodity producers sell their commodities in order to buy other commodities: Marx’s C-M-C – a circuit oriented to the acquisition of a use value that is then consumed, and therefore oriented to a substantive endpoint that lies outside the circuit itself. Money that is capital, by contrast, inhabits a circuit in which possessors of money purchase commodities in order to resell them to obtain more money: Marx’s M-C-M – quickly redefined as M-C-M’ – a circuit oriented to its own endless quantitative expansion. Marx distinguishes the two circuits:

The repetition or renewal of the act of selling in order to buy, is kept within bounds by the very object it aims at, namely, consumption or the satisfaction of definite wants, an aim that lies altogether outside the sphere of circulation. But when we buy in order to sell, we, on the contrary, begin and end with the same thing, money, exchange-value; and thereby the movement becomes interminable… The simple circulation of commodities – selling in order to buy – is a means of carrying out a purpose unconnected with circulation, namely, the appropriation of use-values, the satisfaction of wants. The circulation of money as capital is, on the contrary, an end in itself, for the expansion of value takes place only within this constantly renewed movement. The circulation of capital has therefore no limits.

In social practice, these two circuits don’t describe two separate institutions or physically distinct processes of circulation, but rather practically distinguishable moments within the same overarching process – a point that allows Marx to open a strategically crucial discussion of how social actors who are engaging with the very same process, might still plausibly emerge from this engagement with radically different practical orientations and subjective perceptions of what the process entails. Marx is using this discussion, in other words, to open up an analysis of a social process that intrinsically entails a proliferation of conflicting perceptions, subjective orientations, and engagements with a core social institution. This is an analytical strategy Marx uses throughout Capital – not something he regards as unique to the analysis of the sphere of circulation: Capital relies heavily on the notion that the same context can be generative of forms of perception, thought, and practice that conflict with one another, but that nevertheless share the common quality of expressing determinate potentials of that context.

Analysing some of the forms of subjectivity that express the potentials of the sphere of circulation, Marx notes the subject position that the capitalist personifies:

As the conscious representative of this movement, the possessor of money becomes a capitalist. His person, or rather his pocket, is the point from which the money starts and to which it returns. The expansion of value, which is the objective basis or main-spring of the circulation M-C-M, becomes his subjective aim, and it is only in so far as the appropriation of ever more and more wealth in the abstract becomes the sole motive of his operations, that he functions as a capitalist, that is, as capital personified and endowed with consciousness and a will. Use-values must therefore never be looked upon as the real aim of the capitalist; neither must the profit on any single transaction. The restless never-ending process of profit-making alone is what he aims at. This boundless greed after riches, this passionate chase after exchange-value, is common to the capitalist and the miser; but while the miser is merely a capitalist gone mad, the capitalist is a rational miser. The never-ending augmentation of exchange-value, which the miser strives after, by seeking to save his money from circulation, is attained by the more acute capitalist, by constantly throwing it afresh into circulation.

The phrasing is important here. Marx does not say that we can predict how groups of empirical people will perceive or engage with the process of circulation by, for example, examining how much money they possess, determining whether they own the means of production, or monitoring how they engage with the process of circulation. His point is instead a definitional one: he says that a possessor of money becomes a capitalist, to the extent that they consciously represent and adopt as their subjective aim, a movement that is described in the text as an objective process – a process that confronts individuals as something beyond their personal control – to which the capitalist then orients subjectively in terms of their ongoing search for profit.

At the beginning of the following chapter, Marx further proliferates the perspectives from which this same social process can be viewed, by pointing out that most participants in the exchange process don’t adopt the perspective of the capitalist, but instead engage with the process as if it were a matter of simple commodity exchange – as if the process of circulation were a process of obtaining determinate use values for consumption. Marx argues:

The form which circulation takes when money becomes capital, is opposed to all the laws we have hitherto investigated bearing on the nature of commodities, value and money, and even of circulation itself. What distinguishes this form from that of the simple circulation of commodities, is the inverted order of succession of the two antithetical processes, sale and purchase. How can this purely formal distinction between these processes change their character as it were by magic?

But that is not all. This inversion has no existence for two out of the three persons who transact business together. As capitalist, I buy commodities from A and sell them again to B, but as a simple owner of commodities, I sell them to B and then purchase fresh ones from A. A and B see no difference between the two sets of transactions. They are merely buyers or sellers. And I on each occasion meet them as a mere owner of either money or commodities, as a buyer or a seller, and, what is more, in both sets of transactions, I am opposed to A only as a buyer and to B only as a seller, to the one only as money, to the other only as commodities, and to neither of them as capital or a capitalist, or as representative of anything that is more than money or commodities, or that can produce any effect beyond what money and commodities can. For me the purchase from A and the sale to B are part of a series. But the connexion between the two acts exists for me alone. A does not trouble himself about my transaction with B, nor does B about my business with A. And if I offered to explain to them the meritorious nature of my action in inverting the order of succession, they would probably point out to me that I was mistaken as to that order of succession, and that the whole transaction, instead of beginning with a purchase and ending with a sale, began, on the contrary, with a sale and was concluded with a purchase. In truth, my first act, the purchase, was from the standpoint of A, a sale, and my second act, the sale, was from the standpoint of B, a purchase. Not content with that, A and B would declare that the whole series was superfluous and nothing but Hokus Pokus; that for the future A would buy direct from B, and B sell direct to A. Thus the whole transaction would be reduced to a single act forming an isolated, non-complemented phase in the ordinary circulation of commodities, a mere sale from A’s point of view, and from B’s, a mere purchase. The inversion, therefore, of the order of succession, does not take us outside the sphere of the simple circulation of commodities, and we must rather look, whether there is in this simple circulation anything permitting an expansion of the value that enters into circulation, and, consequently, a creation of surplus-value. (italics mine)

Marx breaks down further potential perspectives in each chapter, each predicated on a socially plausible form of engagement with this very same process of circulation. He customarily links these perspectives, either in the text or in his notes, with specific figures or intellectual movements that express each perspective. These often rapid fire and gestural links are intended as immanent critiques – as demonstrations that Marx will not dismiss alternative forms of theory as “mere” errors or illusions (a form of abstract negation these competing forms of theory often practice on one another), but will instead grasp them as expressions of determinate dimensions of a shared context Marx is also seeking to theorise. By doing this, Marx begins to set up what he intends as a determinate negation – in the form of a theory of capitalism in which circulation itself is positioned as but a moment in an overarching process.

In these two chapters, he only hints at the perspective his own critique expresses, setting up for the analysis of wage labour to follow:

We have shown that surplus-value cannot be created by circulation, and, therefore, that in its formation, something must take place in the background, which is not apparent in the circulation itself. But can surplus-value possibly originate anywhere else than in circulation, which is the sum total of all the mutual relations of commodity-owners, as far as they are determined by their commodities? Apart from circulation, the commodity-owner is in relation only with his own commodity. So far as regards value, that relation is limited to this, that the commodity contains a quantity of his own labour, that quantity being measured by a definite social standard. This quantity is expressed by the value of the commodity, and since the value is reckoned in money of account, this quantity is also expressed by the price, which we will suppose to be £10. But his labour is not represented both by the value of the commodity, and by a surplus over that value, not by a price of 10 that is also a price of 11, not by a value that is greater than itself. The commodity owner can, by his labour, create value, but not self-expanding value. He can increase the value of his commodity, by adding fresh labour, and therefore more value to the value in hand, by making, for instance, leather into boots. The same material has now more value, because it contains a greater quantity of labour. The boots have therefore more value than the leather, but the value of the leather remains what it was; it has not expanded itself, has not, during the making of the boots, annexed surplus-value. It is therefore impossible that outside the sphere of circulation, a producer of commodities can, without coming into contact with other commodity-owners, expand value, and consequently convert money or commodities into capital.

It is therefore impossible for capital to be produced by circulation, and it is equally impossible for it to originate apart from circulation. It must have its origin both in circulation and yet not in circulation.

We have, therefore, got a double result.

The conversion of money into capital has to be explained on the basis of the laws that regulate the exchange of commodities, in such a way that the starting-point is the exchange of equivalents. Our friend, Moneybags, who as yet is only an embryo capitalist, must buy his commodities at their value, must sell them at their value, and yet at the end of the process must withdraw more value from circulation than he threw into it at starting. His development into a full-grown capitalist must take place, both within the sphere of circulation and without it. These are the conditions of the problem. Hic Rhodus, hic salta!

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