TagWerttheorie

[Translated version of »Wie unwissenschaftlich ist die Arbeitswerttheorie?«, originally published by Viewpoint Magazine – thanks a lot!] In any Capital course, the question of whether the labor theory of value is still valid is a much discussed issue, one that extends to the third volume, as the transformation problem (which I won’t go into at all) shows. The point of departure for my elaboration is a podcast that is currently popular in Germany that deals with Marx’s Capital, and the reaction by listeners in a Twitter thread. I wanted to keep my response short, but my two observations are too long for Twitter. In my opinion, Marx does not formulate a substance theory, [1] because that which is referred to as substance, value, is purely social. He also does not intend to prove that...