qcop [none/use name]

  • 7 Posts
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Joined 1 year ago
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Cake day: August 28th, 2024

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  • Ok I almost caught up. Just finished reading Chapter 9. I’ll try to do Chapter 10 first sections with next weeks reading.

    I had to reread a lot the Senior argument and Marx’s answer regarding the last hour. At first I thought Marx was doing exactly the same as Senior in its argument (ie arbitrarily deciding the first hours pay the wage), but then I understood that whereas Marx was using it as a pedagogical tool to show more clearly that there is unpaid labor creating surplus value while still saying that actually every hour of labor actually is actually always fragments of c,v and p. Senior was actually fraudulently trying to assert that profit only actually occurs in the “last hour”, thus removing this last hour would remove all the profit.

    This is such a diabolical thing from Senior and I actually encounter this kind of argument frequently by capitalists and right wing politicians when arguing against lowering the work day or having a minimum wage, although now they usually present it in a bit of a different form.

    When hearing this without thinking too much about it, I can see how you can easily start nodding along even though when prodding it, the argument disintegrates.




  • Im currently reading it and participating in the annual reading club (join us!). So disclaimer I’m not an expert.

    I would say it artificially lowers the value of labor power (it does not actually lower its value but masks its real value) as capitalists can get away with paying less than what’s necessary for the social reproduction of labor power thus pocketing more of the plus-value while preventing an underconsumption crisis. And they also make money by lending you what you’re borrowing through interests.

    My understanding of this part is that in a given society at a given historical time the value of labor power is equal to the typical basket of goods a worker consumes to reproduce their labor power.

    For example in 1850 in Europe it might have been food,cigarettes, rent. And in 2025 in Europe it would include among other things taking a 2day vacation semewhere.




  • I’m still a bit behind. I’m wrapping up Chapter 2 and have had to spend a lot of time in Chapter 1. I think I’m finally starting to get Chapter 1 but I feel like I’ll have to revisit it in a few months to really anchor what I learned.

    One of the thing that jumped at me having read about diamat, was how I believe in Chapter 2. Value is approached from a dialectical perspective. The use value and the exchange value are contradictions contained in the commodity (unity of opposites). If I want to realize the exchange value I would have to “alienate” from my pov the use value and vice versa, making them clearly exclusion of one another. These contradictions forces the appearance of the exchange which brings selling/buying as the contradictions. The synthesis of it is money which creates new contradictions (C-M-C’ vs M-C-M’).