Journal Article

The Specter of Value

RICCI, ANDREA

2024

Overview

The beginning of Marx’s Capital has references to Hegel’s Logic of Being. From the individual commodity considered in isolation, Marx derives the value form as the germ cell of capitalist society. Marx’s materialist inversion of the Hegelian dialectic posits the value form as a spectral objectivity that constitutes the real abstraction specific to capitalism. As the most abstract expression of capital, it rules unconsciously the totality of social praxis as an absolute fetish. Value arises from a double mystification: the reification of capitalist social relations of production in an objective abstract form, and its representation in concrete objects, as commodities and money in circulation. Value, as the real abstraction of capitalist social relations of production, is the disjunctive synthesis between the despotic command of capital in production and the reciprocity of exchange in circulation. In the final chapter on primitive accumulation, Marx identifies its historical genesis in the dispossession of the commons, which, by separating the subjective from the objective conditions of production, gives rise to the capital-wage labour relation.

• Publisher: Revista Portuguesa de Filosofia
• Subject: I Marxists of Our Time