Status Updates From Deciphering Capital: Marx's...

Done with a chapter on Ricardo-Marx's debacles. For so long i have been holding on to a substantialist understanding of Value( thanks to my lecture Terry Peach) , which give rise to a striking marxian dilemma: the transformation of value into price.

"The ‘accumulation of misery’ that (this is the ‘law’) necessarily accompanies the ‘accumulation of wealth’.".

"We live in an economic world that in some respects is closer to the one inhabited by Marx 150 years ago than was that of the mid-20th century".

"The causality of crisis for Marx centres on the interplay between the tendency of the rate of profit to fall and the movements of capital on the money market".

"The ‘apparent movement of capital’ on the financial markets is part of its real functioning".

"The economic dimension of this process is provided, not directly by crises, but rather by the process of centralisation and concentration of capital to which they contribute" - crises do bring about concentration and centralization (M&A, nationalizations, bankruptcies), and - as in physics - more is different.

"The economic dimension of this process is provided, not directly by crises, but rather by the process of centralisation and concentration of capital to which they contribute" - crises do bring about concentration and centralization (M&A, nationalizations, bankruptcies), and - as in physics - more is different.

"Crises, through the ‘violent destruction of capital’ they involve, allow capitalism to ‘go on’—that is, to resume its course of development."

Grundrisse: "The violent destruction of capital not by relations external to it, but rather as a condition of its self-preservation, is the most striking form in which advice is given it to be gone and to give room to a higher state of social production".

Marx: "The material and mental conditions of the negation of wage labour and of capital, themselves already the negation of earlier forms of unfree social production, are themselves results of its production process. The growing incompatibility between the productive development of society and its hitherto existing relations of production expresses itself in bitter contradictions, crises, spasms" - capital develops!

"capital, ie wage labour"