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Ge orge Caffentzis

Immeasurable Value? An Essay on Marxs Legacy


Dedicated to Sol Yurick

Introduction: A

lea! "ouse legacy?

#$%e La&yers %a'e t&isted it into suc% a state of bede'ilment t%at t%e original merits of t%e case %a'e long disa((eared from t%e face of t%e eart%) Its about a *ill+ and t%e trusts under a *ill,or it &as+ once) Its about not%ing but Costs+ no&) *e are al&ays a((earing+ and disa((earing+ and s&earing++ and interrogating+ and filing+ and cross-filing+ and arguing+ and sealing+ and motioning+ and referring+ and re(orting+ and re'ol'ing about t%e Lord C%ancellor and all %is satellites+ and e.uitably &altzing oursel'es off to dusty deat%+ about Costs) $%ats t%e big /uestion) All t%e rest+ by some extraordinary means+ %as melted a&ay)0 # ut it &as+ sir+0 said I+ to bring %im bac!+ for %e began to rub %is %ead+ #about a *ill?0 C%arles 1ic!ens+ Bleak House 234567 8((osition to ca(italism &as not in'ented by Marx) Anti-ca(italist mo'ements %ad an enormous (resence before %is time and t%ey continue to #c%ange t%e &orld0 long after t%e colla(se of t%e go'ernments run by self-defined Marxist (arties in t%e former 9o'iet :nion and Eastern Euro(e)3 9urely+ reading and acce(ting Marxs &or! &as ne'er a necessary condition for o((osing ca(italism+ but is it still sufficient? *%ate'er t%e ans&er to t%at .uestion+ surely Marxs textual legacy stimulates tremendous ambi'alence in t%e anti-ca(italist mo'ement) ;or it is %ard to imagine a serious analysis and criti.ue of ca(italism t%at &ould not use at least some of t%is mountainous legacy+ but t%ere is an anxiety in a((roac%ing it due to its alleged associations &it% 9talinism+ 3<t%-century ca(italism and its (olitical economy+
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totalitarianism+ secular %umanism+ or any of a t%ousand ot%er contem(orary (%antoms %aunting one or anot%er (ersons imagination) Is Marxs textual mountain somet%ing of a cursed 2t%oug% tantalizingly %uge7 legacy li!e t%e one in 1ic!ens Bleak House &%ic% literally dri'es a number of c%aracters insane in t%eir futile efforts to a((ro(riate it t%roug% endless legal (rocedures in a %ellis% #Court of C%ancery0? $%e ambi'alence ex(ressed in t%is .uestion cries out for a criterion t%at &ould neatly se(arate t%e useful (arts of Marxs &or! from t%e out-dated or e'en reactionary) $%ere %a'e been a 'ariety of efforts in t%e (ast to (ro'ide suc% a criterion) ;or exam(le+ t%e famous #early0 'ersus #late0 Marx debates from t%e 3<5=s to t%e 3<>=s (ro'ided sim(le tem(oral dic%otomies bet&een acce(table and unacce(table texts,before or after 34?4+ before or after 3454+ before or after 34@> 2cf)+ t%e locus classicus of t%is effort being 2Alt%usser 3<<@77) ut t%ey %a'e (ro'en as interminable and indecisi'e as t%e #Aarndyce and Aarndyce0 case of Bleak House) In t%is essay+ I &ill in'estigate &%et%er t%ere is an a((ro(riate criterion to distinguis% t%e useful from eliminable &or!s of Marx) I &ill do t%is indirectly 'ia an analysis and criti.ue of Antonio Begris and %is collaborator Mic%ael "ardts &or! on t%ese issues+ since Begri+ to %is credit+ %as ent%usiastically addressed t%e #Marx ambi'alence0 syndrome t%oroug%ly+ (ositi'ely+ and often unseasonably for decades &%ile Mic%ael "ardt %as Coined %im in t%e last decade in (resenting a &idely discussed and conce(tually sim(le ans&er to t%e #Is t%ere Marx after Marx?0 .uestions) $%ey claim t%at t%oug% muc% of Marxs &or! is still 'ital to t%e anti-ca(italist mo'ement+ t%e (art of Marxs &or! t%at logically de(ends u(on t%e La& of Value s%ould be reCected &%ile t%at (art t%at is not de(endent on t%e La& could be usefully introduced into t%e anti-ca(italist (%iloso(%y of t%e future) I &ill call t%is dic%otomy of Marxist texts+ Begri and "ardts #criterion o' (iabilit")0 $%ey Custify t%is criterion on t&o counts: 2i7 t%e La& of Value is obsolete+ i)e)+ it &as a((licable+ at best+ to 3<t% century ca(italism+ but it %as lost all gri( on t%e reality of contem(orary (ostmodern ca(italism De)g)+ 2"ardt and Begri 3<<?: <+ 3>57+ 2"ardt and Begri E===: E=<+ 655-65<7F 2ii7 t%e La& forms t%e ideological basis of unacce(table socialist and 9talinist reactions to ca(italism) 9urely Begri and "ardt are not alone in trying to rid t%e anti-ca(italist mo'ement of Marxs rat%er embarrassing continuity &it% t%e #classical tradition0 in (olitical economy &%ic% is (resumably ty(ified by Marxs (resumed ad%erence to t%e La& of Value) Marxs Labor $%eory of Value &it% its La& of Value corollary+ is continually attac!ed as being eit%er em(irically (assG or conce(tually inco%erent) 9raffians li!e
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Ian 9teedman and #analytic Marxists0 li!e G) A) Co%en and Aon Elster argue t%at t%e !ey .uestion for t%e anti-ca(italist mo'ement is sim(ly &%et%er t%e ca(italists can Custly di'ide t%e (roducti'e results of t%e system D29teedman 3<>>7+ 2Co%en 3<447+ 2Elster 3<457H) If t%e ans&er is #no+0 t%en t%at is reason enoug% to c%allenge it) *%y be saddled &it% an elaborate and+ in t%e bargain+ myt%ical #'alue-foundation0 for an antica(italist ideology+ es(ecially in an era &%en #foundationalism0 is out of fa'or as a (%iloso(%icalI(olitical attitude 21errida 3<<?: 3>=7? Begri and "ardt differ from suc% critics in t%at t%ey claim to find t%is reCection of t%e La& of Value in Marxs o&n &or!+ es(ecially t%e #;ragment on Mac%ines0 in t%e )rundrisse and in t%e un(ublis%ed Jart 9e'en of *a+ital I+ #Kesults of t%e Immediate Jrocess of Jroduction07) $%ey claim t%at Marx,in Cassandra-li!e moments bet&een 3454 and 34@@+ es(ecially &%ile &riting t%e midnig%t noteboo!s later called t%e #Grundrisse+0 2translated as t%e #;oundation of a Criti.ue of Jolitical Economy07 and t%e #Kesults0,(ro(%esied t%at t%e de'elo(ment of ca(italism &ould undermine t%e La& of Value)))in the 'uture) Begri and "ardt argue t%at Marxs #future0 is sim(ly no&) $%at is+ ca(italism came to a (oint during t%e late E=t% century &%en: 2i7 science and tec%nology &%ic% are t%e (roducts of t%e #general intellect0 and #immaterial labor+0 not material labor+ dominate t%e (roducti'e metabolism &it% natureF 2ii7 ca(italism subsumes under its o&n control not only t%e (roducti'e (rocess+ but all of t%e allied (rocesses of social re(roduction 2education+ sexuality+ communication+ demogra(%y+ etc)7+ i)e)+ #bio(olitics0 in t%e terminology t%at Begri and "ardt borro& from ;oucault) $%ey claim t%at t%ese de'elo(ments literally #ex(lode0 2to use Marxs term in t%e )rundrisse%s #;ragment07 t%e older 'alue form and (ut t%e La& of Value in crisis) In t%is essay I &ill s%o& &%y Begris and "ardts criterion of 'iability based on t%e reCection of t%e La& of Value is not t%e best &ay to #sa'e0 Marxs &or! for t%e antica(italist mo'ement)E

Jart I: Marx on Value and t%e La& of Value: Jrolegomena


A necessary ste( and+ at t%e same time+ an im(ortant (roblem for Begris and "ardts criterion of 'iability is sim(ly t%at &%at t%ey refer to as t%e #La& of Value0 is not e$+licitl" de'ined in Marxs &or!) $%ere are many ex(licitly stated la&s 2e)g)+ t%e la& of t%e tendency of t%e falling rate of (rofit+ t%e general la& of ca(italist

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accumulation7 and many ex(licitly identified 'alues 2e)g)+ use-'alue+ exc%ange-'alue+ sur(lus 'alue7 in Marxs texts+ but t%ere is little e'idence of a #La& of Value)0 Alt%oug% Engels seems to %a'e used it often+ Marx rarely em(loys t%e (%rase in *a+ital I, II, III or in t%e letters and un(ublis%ed manuscri(ts+ and+ &%en %e does+ %e uses t%e (%rase loosely and in (assing) ;or exam(le+ in t%e 4@= (ages of *a+ital III attributed to Marx t%ere are only se'en uses of t%e (%rase according to t%e index and it is difficult to #abstract0 a la&-li!e statement of t%e La& of Value from sim(ly (utting all t%ese different uses in Marxs texts side-by-side) $%is (aucity of use mig%t be sur(rising+ since t%e (%rase &as often de(loyed as if its meaning &as ob'ious by many &riters after Marx to describe com(lex relations%i(s among a set of #%idden 'ariables0 belo& t%e le'el of o'ert economic discourse &%ic% is normally dominated by (rices+ &ages+ (rofits+ interest rates+ rents ex(ressed in monetary terms) Jer%a(s t%at is &%y Begri seems to be so nonc%alant about t%e (%raseF it &as so commonly used during %is yout% in t%e (ages of Italian Communist and 9ocialist Jarties ne&s(a(ers and (am(%lets t%at it didnt need ex(licit definition) Certainly+ e'en if it does not %a'e a central role in Marxs &ritings+ #t%e La& of Value0 is a &idely used tec%nical (%rase in t%e Marxist tradition) $%e (roblem &it% t%is traditional use is sim(ly t%at t%e La& of Value %as been gi'en a &ide 'ariety of definitions by Marxist economists and (oliticians) $%us in Leontye's 9o'iet-era textboo! on (olitical economy+ t%e La& of Value is narro&ly defined as claiming t%at #t%e 'alue of a commodity is determined by t%e amount of socially necessary labour ex(ended on its (roduction0 2Leontye' 3<>?7) related meanings: 2i7 a #(rice t%eory0 'ersion of t%e la&+ similar to Leontye's definition+ &%ic% claims t%at t%e exc%ange 'alues and (roduction (rices of goods are #establis%ed according to t%e labour sociallynecessary for t%eir re(roductionF0 2ii7 t%e La& ex(lains t%e mar!et-(rice mec%anism in .uantitati'e termsF 2iii7 t%e La& ex(lains class relations+ alienation and im(o'eris%ment in ca(italismF 2i'7 #t%e la&s of de'elo(ment of ca(italism in %istory 2concentration+ t%eory of crises+ etc)7 can be incor(orated+ too+ so t%at t%e la& of 'alue embraces t%e economic la& of motion of ca(italist society0 2"affner 3<>6: E@4-E@<7) If one acce(ts t%e #maximal0 definition+ t%en most of Marxs ty(ical tenets &ould be identified &it% t%e La& of Value) Conse.uently+ t%ere &ould be fe& Marxian ut ;redric! "affner in %is encyclo(edia article on #t%e La& of Value0 (ro'ides a maximal definition %a'ing four different+ but

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#(%enomena0 to #sa'e0 once one a((lies Begris and "ardts #e'eryt%ing but t%e La& of Value0 criterion of 'iabilityL 1oes t%at mean t%at &e s%ould use t%e #restricted0 Leontye' definition for t%e (ur(oses of our discussion? $%e difficulty &it% ma!ing suc% a decision is sim(ly t%at t%e (%rase is not in common use outside of t%e (ages of (ost-Marx Marxist and 9o'iet-era economists &%o &ere dealing &it% a crisis of (lanning immediately after t%e Kussian Ke'olution) $%e Communist Jarty %ad to ma!e good on its claim t%at a (lanned economy is not only (ossible+ but it is su(erior to one based on #t%e anarc%y of (roduction)0 $%e discussions of a #La& of Value0 really too! off during t%e debates about t%e transition from ca(italism to socialism and t%e nature of economic (lanning)E /uestions li!e+ #Is t%ere a la& of 'alue t%at is eit%er fully (ut into (lay in socialism Das Leontye' arguedH or is ca(italism+ muc% less socialism and communism+ beyond t%e la& of 'alue Das 9talin insistedH?+0 &ere fre.uently (osed D2Leontye' 3<>?: 3@@7+ 29talin 3<>E: ?>6?>57H "o&e'er+ t%ere is no doubt t%at t%ese debates+ &%ic% no& a((ear to many as baro.ue 'erbal Cousting o'er t%e cor(ses of millions of &or!ers+ &ould fill Begri &it% contem(t or des(air+ ins(iring %im to say+ # astaL0 ut unless &e are to (ractice t%e ad homonim fallacy and find conce(ts guilty by t%eir %istorical associations+ &e are still left &it% t%e (roblem: &%at is t%e La& of Value and can its reCection be used to differentiate #t%e .uic! from t%e dead0 in Marxs &or!? In order to best decide &%at meaning #t%e La& of Value0 mig%t %a'e t%at can gi'e Begris and "ardts criterion of 'iability some (lausibility+ &e must briefly consider t%e 'alue-discourse Marx 'alidates+ since t%at discourse sets t%e (arameters of t%e La&s meaning) Marxs &or! is certainly re(leate &it% 'alue-discourse) $%e !ey text of t%e nineteent% century anti-ca(italist re'olution+ *a+ital I+ not only begins &it% Value+ its first c%a(ter is a detailed+ sc%olastic and+ some &ould say+ (edantic dis.uisition on 'alue 2in all its forms and t%eir tensions7 &%ic% e'entually leads to a sort of #dialectical deduction0 of money 2the language of ca(italism7) *%y did Marx re.uire %is readers to climb t%is dialectical (urgatorial mountain before t%ey could fly to (aradise of class struggle? Marx &as certainly conscious of t%e %ea'y demands on %is readers) le genti0 2#;ollo& your (at%+ and let t%e (eo(le tal!)07 It is no accident t%at Marx begins %is maCor criti.ue of (olitical economy in *a+ital I 234@>7 &it% Value) $%at &as t%e originary axiom of t%e genre Marx &as criti.uing+ after all) ut t%ere are ot%er+ contextual reasons as &ell to account for t%e attracti'eness of ut %e brus%ed t%em off by (roudly in'erting 1antes -ugatorio: #9egui il tuo corso+ e lasci dir

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t%e conce(t of 'alue+ for during *a+ital%s com(osition in t%e 345=s and 34@=s+ t%e conce(t of 'alue transcended t%e boundaries of (olitical economy into et%ical and mat%ematical discourse+ es(ecially in Germany) 8n t%e et%ical side+ #'alue0 mar!ed out a ne& terrain of 'olitions and affecti'e dis(ositions 'ersus t%e realm of fact and t%e norms of (ure reason+ and on t%e logical and mat%ematical side+ 'alue mar!ed a s%ift from a substance-abstraction to a function-relational formation of conce(ts and mat%ematical ontology) Value in t%e et%ical region refers to a forceful 'ector of desire irreducible to eit%er reason+ utility or instinct) ut 'alue in t%is sense is not autonomous+ it needs an obCect to be manifested) "ence+ at t%is time+ et%ics becomes a field of (ro(ositional attitudes and a be%a'ioral dis+ositions) In effect+ t%e ontological features of economic 'alue became generalized+ but t%e con'erse mo'ement (re'ailed as &ell and (olitical economy became et%icized) $%is inter(lay bet&een et%ics and (olitical economy can be illustrated in t%e com(arison bet&een Marxs and %is younger contem(orary+ ;riedric% Bietzsc%es critical (roCects) *%ereas Marx identified %is (roCect in t%e 345=s and 34@=s as a criti.ue of (olitical economy 2and %ence a criti.ue of t%e notion of 'alue as ens%rined by t%at disci(line7+ Bietzsc%e in t%e 34>=s and 344=s defined a (arallel (roCect in t%e )enealog" o' #orals: #&e need a criti.ue of moral 'alues+ t%e 'alue of t%ese 'alues t%emsel'es must first be called in .uestion0 2Bietzsc%e 3<@4: ?5@+ Bietzsc%es italics7) Aust as Marx loo!ed on t%e #t%e immense collection of commodities0 com(rising ca(italist society to self-reflexi'ely .uestion t%e 'alue of exc%ange 'alue and sur(lus 'alue and to s%o& t%at a notion li!e t%e #'alue of labor0 is as meaningless as a #yello& logarit%m0 D2Marx 3<>@: 3E57+ 2Marx 3<@@: 4347H+ Bietzsc%e &as able to Cudge 'alue Cudgments and e'aluate t%e tables of 'alues generated by t%e C%ristian good and e'il+ sim(ly because t%e &%ole field of et%ics %ad been #'alorized0 by t%e mid- to late-3<t% century) 8bCects and actions lost t%eir in%erent moral c%aracters 2or #'irtues07 and became functions+ attitudes+ or Cudgments of 'alue) Bietzsc%e recognized t%is logical re'olution in et%ics 2as Marx did in (olitical economy7 and sa& t%e ine'itable next ste(: t%e self-reflection of t%e et%ical function+ attitude or Cudgment) $%is is t%e conce(tual source of Bietzsc%es #tremendous ne& (ros(ect0 and existential #'ertigo+0 not some Mber-relati'ism of (ersonal (references 2Bietzsc%e 3<@4: ?5@7) ;or moral and aest%etic 'alues &ere only gradually being distinguis%ed from economic 'alues+ and t%ey still s%ared a strict obCecti'ity &it% t%em in Bietzsc%es &ritings) As Kobert Ao%n Ac!ermann (ointed out: #Bietzsc%es 'alues are still related to t%ese obCecti'e economic roots in t%at t%ey are ca(able of obCecti'e
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assessment of t%eir im(act on our interactions &it% t%e surrounding &orld0 2Ac!ermann 3<<=: <=7) $%e criti.ue of 'alue in et%ics and (olitical economy &as also dee(ly in'ol'ed in a great de'elo(ment in t%e mat%ematics and logic of t%e later nineteent% century: t%e transformation of substance into function)? $%e ne& 3<t% century model of t%e uni'ersal reCects abstraction from t%ing-li!e substances) $%e mat%ematician 1robisc% in 34>5+ for exam(le+ c%aracterized it as #t%e mat%ematical function Dt%atH re(resents a uni'ersal la&+ &%ic%+ by 'irtue of t%e successi'e 'alues &%ic% t%e 'ariable can assume+ contains &it%in itself all t%e (articular cases from &%ic% it %olds0 2.uoted in Cassirer 3<E6: E37) A 'alue arises t%erefore from a relation to ot%er 'alues determined by a uni'ersal (rinci(le of serial order) Values are determined not by increasing abstraction from (ro(erties 2as in t%e Aristotelian (aradigm7+ but by being engaged in an increasing density of relations and series) Moreo'er+ 'alues are de(endent u(on 'ariables+ la&s+ sets and series t%at can become 'alues of furt%er 'ariables+ la&s+ sets and series+ i)e)+ t%ey are o(en to being reflexi'ely trans(alued) $%is laid t%e basis for t%e many re'olutionary mat%ematical insig%ts of t%e (eriod including 9et $%eory and "ilbert 9(ace $%eory) $%e #'alue0 of mid- to late-3<t% century mat%ematics and logic and t%e #'alue0 of (olitical economy 2as Marx analyzes it7 are not mere %omonyms) In Marxs criti.ue of (olitical economy t%e notion of 'alue arises not t%roug% t%e stri((ing of t%e .ualities of t%e commodity to find an #in%erent0 (ro(erty+ but t%roug% its manifold actual and (otential exc%ange relations &it% ot%er commodities 2es(ecially t%at (rime selfreflexi'e uni'ersal commodity+ money7)5 Value discourse+ t%en+ allo&ed Marx to bot% use t%e language of t%e obCect of %is criti.ue+ (olitical economy+ and to be able to trans'alue t%e 'alues %e criticized) In ot%er &ords+ 'aluation and trans'aluation in t%eir (olitical-economic+ et%ical and logical dimensions &ere t%e entrGe to a set of conce(tual re'olutions in %is era t%at Marx could %ardly resist) ut Marx not only used+ criticized and trans'alued 'alue discourse+ %e em(loyed a s(ecific 'ariant of t%at discourse+ i)e)+ labor-'alue+ to bot% analyze ca(italism+ and its science+ (olitical economy+ as &ell as to criticize+ o'erturn and trans'alue t%em) "e sa& in %is use of labor-'alue discourse a (olitical-(%iloso(%ical e(oc%G 2i)e)+ a sus(ension of conce(tual ca(italist #business as usual07 and a scientific in'itation to go belo& t%e #surface0 of ca(italist society 2to its inferno and (andemonium in t%e (rocess of (roduction7 to sol'e a number of (roblems faced by t%e anti-ca(italist mo'ement of t%e time)

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N ;irst 2analytic7+ labor-'alue discourse allo&s for an a((arently (recise and measurable definition of ex(loitation in ca(italist society) $%is clarity is es(ecially crucial in ca(italism because ex(loitation is formally and legally %idden by t%e &age form) As Marx fre.uently (oints out+ it is clear to t%e serf &%en sI%e is &or!ing on %isI%er land 'ersus on t%e land of t%e lord+ &%ereas for t%e &aged &or!er t%e moment &%en t%e labor-time necessary to create t%e 'alue of %isI%er &age is finis%ed and sur(lus labor-time begins is systematically obscured by t%e &age form and t%e general (rocess of 'aluation) N 9econd 2critical7+ labor-'alue discourse (ro'ides a narrati'e 2i)e)+ t%e class struggle7 t%at &or!ers can use in an antagonistic &ay to describe t%emsel'es as fundamental actors in t%e drama of %istory and t%e ca(italists and landlords as (arasitic u(on t%eir labor+ anxiety and suffering) It allo&s t%e &or!er to 'ie& t%e totality of ca(italist relations from %isI%er (oint of 'ie& and not from t%e (ers(ecti'e of t%e ca(italist 2Clea'er E==37)@ ;or t%e ca(italist (ers(ecti'e+ as ex(ressed in t%e #illusions0 of t%e $rinity ;ormula 2Marx 3<@@: 43?-4637 and t%e actual increase of t%e (roducti'ity of labor due to a((lication of scientific !no&ledge to (roduction 2and re(roduction7+ ine'itably leads to t%e 'ie& t%at ca(ital 2not labor7 is (roducti'e and is t%e legitimate force to determine t%e future of %umanity) N $%ird 2re'olutionary7+ if labor is t%e ultimate force of 'alue creation 2as t%e La& of Value claims and gi'es a measure to7+ t%en laborers are 'aluable and creati'e in t%emsel'es) A re'olutionary corollary follo&s: &or!ers are ca(able of creating nonca(italist #tables of 'alues0 and+ indeed+ an autonomous &orld beyond ca(italism) $%is con'iction is crucial for t%e de'elo(ment of a re'olutionary alternati'e to ca(italism) *it%out it+ t%e class struggle becomes a form of #bad infinity+0 al&ays t%ere+ al&ays (roducing t%e next ste(+ but ne'er t%e last ste() $%is discussion establis%es t%e centrality of Marxs 'alue discourse+ but it still lea'es t%e .uestion of t%e meaning of t%e La& of Value o(en) In order to (roceed in t%e s(irit of c%arity+ I &ill assume t%at t%e best meaning of #t%e La& of Value0 is t%e most restricted one+ i)e)+ t%e 'alue of a commodity is determined by t%e socially necessary labor-time re.uired for its (roduction)

Jart II: Begris criti.ue of Marx 2from #ar$ Be"ond #ar$ to !m+ire 7F a trans'aluation of t%e La& of Value
According to t%e argument of t%e last section+ t%ere are a number of good scientific and (olitical reasons &%y Marx de'elo(ed a labor-'alue discourse 2along &it% an

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occasional mention of a La& of 'alue7 in t%e 345=s and 34@=s) 1oes one need to go beyond labor-'alue discourse in general and include t%e notion of a La& of Value in order to ans&er t%e basic .uestions of t%e anti-ca(italist mo'ement today? If t%e ans&er is #no+0 and t%ere are enoug% texts in t%e Marxist canon t%at could sur'i'e t%e result of excising t%ose t%at rely on t%e La& of Value+ t%en Begris and "ardts criterion of 'iability &ould create a useful dic%otomy) In t%is section I s%all examine t%e de'elo(ment of t%e criterion in Begris and "ardts &ritings and in t%e next I &ill demonstrate its strengt%s and &ea!nesses) It is im(ortant to recognize+ %o&e'er+ t%at Begri first attem(ted to construct a criterion of 'iability for Marxs texts long before %e began %is collaboration &it% Mic%ael "ardt) "e attem(ted t%is in %is lectures in t%e Ocole Bormale 9u(Prieure on t%e )rundrisse in 3<>4 &%ic% &ere (ublis%ed in Italian and ;renc% t%e follo&ing year) Begri found t%at Marxs decision to #begin0 t%e )rundrisse &it% Money instead of &it% t%e Commodity or Value to be a sign t%at t%e La& of Value and t%e ot%er (arts of t%e labor-'alue a((aratus can be excised from Marxs t%eoretical &ritings to create a 'iable 2and re'olutionary7 Marx be"ond Marx: $%e t%eory of 'alue+ as a t%eory of categorical synt%esis+ is a legacy of t%e classics and of t%e bourgeois mystification &%ic% &e can easily do &it%out in order to enter t%e field of re'olution) $%at &as true yesterday for t%e classics+ as t%e attac! of t%e )rundrisse demonstratesF today+ one can s%o& in t%e t%eory t%at is still a((licable t%at it is in t%is &ay t%at &e must begin+ against all t%e re(eaters of t%e t%eory of 'alue+ from Diamat to 9raffa 2Begri 3<46: E67) In an amazingly #t%is sided0 fiat of inter(retation+ Begri claims t%at #t%ere is no logical &ay Din t%e )rundrisseH &%ic% leads from t%e analysis of commodities to t%at of 'alue+ to t%at of sur(lus 'alueF t%e middle term does not existF it is,t%at+ yes,a literary fiction+ a mystification (ure and sim(le &%ic% contains not an ounce of trut%0 2Begri 3<4?: E?7) $%is inter(retation clearly distinguis%es t%e )rundrisse from Marxs later &or! including+ by t%e &ay+ t%e *ontributions to a *riti.ue o' -olitical !conom" t%at &as (ublis%ed a year after t%e last )rundrisse noteboo! &as com(leted and &%ic% entirely de'otes itself to an analysis of t%e commodity and 'alue+ i)e)+ engages in literary fictions+ according to BegriL Begri %as e'en %ars%er &ords for *a+ital: $%e (assage from t%e money-form to commodity-form+ from t%e )rundrisse to *a+ital+ only adds abstraction and confusion) 1es(ite all t%e intentions and declarations to t%e contrary+ t%at &%ic% t%e attac! on t%e (roblem of

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commodities determines+ it is a more idealist+ "egelian met%od 2Begri 3<4?: 6<7 Indeed+ t%e (olemic against t%e #t%e abstract 'oid of t%e discourse on 'alue0 and t%e #la& of 'alue0 is continued t%roug%out t%e text &it% Begri drafting a none too ent%usiastic #Marxism of t%e )rundrisse0 into %is crusade against 'alue discourse) In effect+ Begri argues t%at monetary 'alues are ade.uate for t%e definition of t%e most im(ortant conce(ts of Marxism t%at are still rele'ant to contem(orary anti-ca(italist t%in!ing) $%oug% Begris argument in #ar$ Be"ond #ar$ is based on a rat%er (eculiar %ermeneutical met%od 2clearly reCecting any reading t%at is sym(at%etic to Marxs intentions and %is %istorical context7+ t%e result is not too different from t%e more mat%ematical and analytic criti.ues of t%e Labor $%eory of Value in 9teedman+ Elster and Koemer) $%e (roblem &it% Begris early criterion 2&%ic% literally banis%ed any role for labor'alue discourse in a 'iable anti-ca(italism7 is sim(ly t%at almost all of t%e Marxist canon &ould be reCected+ if t%e criterion &ere to be a((lied scru(ulously) $%us t%e criterion &ould not be a criterion at all+ but sim(ly a broad negation of Marxs &%ole o+us) 9ome time after t%e (ublication of #ar$ Be"ond #ar$+ es(ecially &it% %is collaborations &it% "ardt in t%e 3<<=s+ Begri ended %is %ostility to 'alue discourse +er se 2but not to t%e la& of 'alue &%ic% (resu((oses a measurable 'alue7) In !m+ire+ Begri and "ardt &elcome t%e return of 'alue and li'ing labor as #(o&erful and ubi.uitous0 com(onents of (ostmodern ca(italism+ &it% a catc%: t%eir notions of 'alue and labor are unrecognizable from Marxs (ers(ecti'e) Begri and "ardt reCect Marxs Labor $%eory of Value &%ic% is #really a t%eory of t%e measure of 'alue0 2"ardt and Begri E===:6557) $%e 'alue t%ey c%eris% and refer to in one of t%eir many sibylline (assages 265?-6@37 is bot% immeasurable and be"ond measure) 2Economic7 'alue is immeasurable+ in t%e context of &%at "ardt and Begri call Em(ire+ because it cannot be measured by labor-time or any ot%er #fixed scale)0 At best+ 'alue can be indexed #on t%e basis of al&ays contingent and (urely con'entional elements0 im(osed by #t%e mono(oly of nuclear arms+ t%e control of money+ and t%e colonization of et%er0 2"ardt and Begri E===: 6557) In ot%er &ords+ t%ere is no #obCecti'ity0 to t%e economic statistics+ t%e stoc! mar!et indexes+ and t%e commodity (rices t%at stream fort% daily) $%ese numbers measure not%ing+ not because t%ey mismeasure+ but because t%e measuring met%ods are continually o(en to re'ision and are im(osed by (ure (o&er considerations t%at can c%ange &it%out &arning so t%at

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#contingency becomes a necessity and does not descend into disorder0 2"ardt and Begri E===: 65@7) $%ese numbers and t%eir #enforcers0 are t%e result of #t%e im(ossibility of (o&ers calculating and ordering (roduction at a global le'el)0> Value also is be"ond measure according to "ardt and Begri+ because t%oug% 'alue is created by li'ing labor+ t%at labor is identified &it% #general social acti'ity0 or #a common (o&er to act0 &%ic% cannot be regimented by cloc!s or any ot%er economic andIor (olitical measures) In ma!ing t%is identification+ Begri and "ardt seem to &illfully ignore t%e &ell !no&n ontological distinction bet&een labor and action from Aristotles day to t%e (resent 'ia Marx Dcf) 2Aristotle 3<43: @?-@5+ 346-3457+ 2Arendt 3<<4 D3<54H7+ 2McCart%y 3<<=7H) Labor %as traditionally been conce(tualized as %a'ing a beginning-middle-end tem(oral structure+ as being able to be (lanned+ re(eated+ re(roduced and im(osed externally &%ile action is s(ontaneous+ creati'e+ uni.ue and cannot be im(osed externally) 8ne can force anot%er to labor again and again+ but one cannot force anot%er to act e'en once) In Aristotles terminology+ a master can com(el a sla'e to labor+ but action can not be com(elled by masters+ for action must be t%e (roduct of free men (artici(ating in t%e &or! of t%e state and constitution) 9urely by identifying li'ing labor &it% action+ and communal social action 2or (ita acti(a, in "anna% Arendts (arlance7 at t%at+ Begri and "ardt can easily demonstrate t%at t%e 'alues created by t%at labor are beyond measure+ since 2i7 t%e 'ery (roducts of suc% #labor0 could not be foreseen before t%e action itself and 2ii7 real action is not re(roducible) $%ey seem to Custify t%eir blurring of t%e distinction in t%e follo&ing &ords: $%is leads us to a (aradox: in t%e same moment &%en t%eory no longer sees labor+ labor %as e'ery&%ere become t%e common substance) $%e t%eoretical em(tying of t%e (roblem of labor corres(onds to its maximum (regnancy as t%e substance of %uman action across t%e globe) Alt%oug% it is ob'ious t%at in t%is totality of reference,gi'en t%e im(ossibility of considering labor as actually 2or e'en sim(ly conce(tually7 transcendent,t%e la& of 'alue is blo&n a(art+ it is e.ually ob'ious t%at t%is immersion in labor constitutes t%e fundamental (roblem not only of economics and (olitics but also of (%iloso(%y) $%e &orld is labor 2"ardt and Begri 3<<?: 337) 8f course+ one must .uestion suc% a notion of labor cum action+ for it does not seem to refer to &%at billions of (eo(le across t%e (lanet do e'ery day under t%e sur'eillance of bosses 'itally concerned about ho/ much time t%e &or!ers are at t%eir Cob and ho/ /ell the" do it again and again) $%e &orld mig%t indeed be labor+ but if t%e bul! of labor in t%e early E3st century &as as Begri and "ardt describe it,#Labor
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t%at %as bro!en o(en t%e cages of economic+ social+ and (olitical disci(line and sur(assed e'ery regulati'e dimension of modern ca(italism &it% its state-form no& a((ears as general social acti'ity0 2"ardt and Begri E===: 65>7,t%en surely ca(italism+ t%e la& of 'alue and muc% else &ould %a'e been a t%ing of t%e (astL indeed+ ca(italism is .uite (resent and seems to %a'e a future) In order to critically examine Begris and "ardts criterion of 'iability and t%eir substitution of action for labor+ it is im(ortant to introduce a basic (remise of t%eir criti.ue of Marxs La& of Value: 3<t% century modern ca(italism is logically a different entity t%an (ost-3<@4 (ostmodern ca(italism) Ca(italism during Marxs time constituted a 'ormal subsum(tion of society+ but after 3<@4 ca(italism %as finally consummated a real subsum(tion of society) $%eir idea of (eriodizing ca(italist %istory is based on an im(ortant distinction Marx made bet&een 'ormal and real subsum+tion o' labor b" ca+ital in t%e (re'iously mentioned un(ublis%ed section of *a+ital I: #$%e Kesults of t%e Immediate Jrocess of Jroduction0 2Marx 3<>@: 3=3<-3=E57 Begri and "ardt describe t%is distinction in t%e follo&ing &ords: Marx uses t%e term #formal subsum(tion0 to name (rocesses &%ereby ca(ital incor(orates under its o&n relations of (roduction laboring (ractices t%at originated outside its domain)))$%roug% t%e real subsum(tion+ t%e integration of labor into ca(ital becomes more intensi'e t%an extensi'e and society is e'er more com(letely fas%ioned by ca(ital 2"ardt and Begri E===: E557) $%e (utting-out system for textile manufacturing or s%are-cro((ing are fine exam(les of formal subsum(tion of labor by ca(ital &%ereas t%e de'elo(ment of #(ost-;ordist0 #Cust-in-time0 tec%ni.ues of (roduction &ould be exam(les of real subsum(tion) ;or in t%e (utting-out system merc%ants &ould #(ut out0 ra& material in(uts to cottagers &%o continued to &or! &it% arc%aic (roduction tec%ni.ues and collect textile out(uts to in turn sell t%em on t%e &orld mar!et) $%e merc%ants ne'er tam(ered &it% (roduction) Contrast t%is &it% #(ost-;ordist0 (roduction t%at studies all t%e &ays t%at %uman (syc%ology 2social and indi'idual7 can be used to ma!e &or!ers more (roducti'e and (ut t%e results into (ractice) 9uc% managers ne'er let t%e (roduction (rocess rest) Begri and "ardt ex(and t%is distinction bet&een formal and real subsum(tion into one bet&een ca(ital and society and use it to define different (%ases of ca(italist %istory 2"ardt and Begri 3<<?: 357) Ca(italism+ t%ey claim+ managed t%is transformation from formal to real ut+

subsum(tion t%roug% t%e increasing em(loyment of t%e #General Intellect0 and #immaterial labor0 in t%e (roduction (rocess and a regime of control o'er t%e
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re(roduction (rocess) $%e connection of t%is %istorical transformation and t%e La& of Value is straig%t-for&ard: t%e La& mig%t %a'e been a((ro(riate to a (eriod &%en ca(ital %ad only formally subsumed society+ but &it% t%e real subsum(tion of society t%e notion t%at a commoditys 'alue can be measured by #socially necessary labor time0 is &ort%less) Value+ in t%e (eriod of real subsum(tion+ is no& created by li'ing immaterial labor coordinated across continents 'ia informatic (lanning and is increasingly directed at bio(olitical obCecti'es) $%e notion of a discrete amount of socially necessary labor time #(um(ed0 into and #crystallized0 in a commodity is com(letely ina((ro(riate 2Caffentzis 3<<>7) Begri and "ardt (ro'ide a (aradigm for understanding bot% ca(itals (ost-Cold *ar tendency to&ards constituting a ne& legitimacy 2&%ic% t%ey term #Em(ire07 based u(on a #global0 state and a bio-(olitical regime 2released from t%e constraints of t%e La& of Value7 and t%e ne& anti-ca(italist mo'ement ta!ing s%a(e in t%e 3<<=s and resisting t%is tendency) $%eir (aradigm c%allenges bot% traditional Marxism and (ostmodernism) $%e failure of t%e former is sim(le+ for it is t%at of #Marx as t%e aut%or of t%e old com(etiti'e ca(italism+ inca(able of co(ing &it% t%e social ca(italism of t%e (resent age0 2Begri 3<4?: x'7) $%e La& of Value mig%t %a'e been a((ro(riate for t%e (eriod of formal subsum(tion+ but it is definitely ino(erati'e in t%e (eriod of real subsum(tion) Jostmodernism as a t%eory for anti-ca(italists fails because of its mystification of struggle: #In reality+ t%e o(eration of real subsum(tion D&%ic% Begri identifies &it% t%e (ostmodern conditionH does not eliminate t%e antagonism+ but rat%er dis(laces it to a social le'el) Class struggle does not disa((ear+ but it is transformed into all t%e moments of e'eryday life)0 Certainly+ Begri and "ardt seem to dismiss any of Marxs texts t%at try to ex(lain t%e &%ys and %o&s of t%e ca(italist #surface structure0 2since it is t%ose texts em(loying labor-'alue discourse and at least t%e restricted La& of Value t%at (ur(ort to do so7) Conse.uently+ t%ey seem to be unconcerned about t%e loss of ex(lanatory (o&er in any anti-ca(italist t%eory of t%e future) If 'alue is beyond measure+ &%ile t%e .uantities of e'eryday life 2from t%e (rices of basic consumer commodities to stoc! futures and currency exc%ange rates7 are measured arbitrarily in "um(ty-1um(ty style+ t%en eit%er Begris and "ardts ideal anti-ca(italist t%eory is a self-(roclaimed failure at .uantitati'e ex(lanation or t%e 'ery tas! of .uantitati'e ex(lanation is to be reCected because its obCect+ (ostmodern ca(italism+ is lac!ing any feature &ort% measuring)

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Jart III: Criti.ue of Begris and "ardts criterion


In order to e'aluate Begris and "ardts criterion of 'iability+ I s%ould begin by noting one of its strengt%s) It is definitely su(erior to Begris #ar$ Be"ond #ar$ criterion of t%e late 3<>=s for acce(ting or reCecting Marxist texts) $%e latter sim(ly es(oused excising t%e &%ole 'alue discourse from t%e #usable0 (art of t%e Marxs canon and t%us t%reatened to eliminate nearly e'eryt%ing in it) Begris and "ardts criterion of t%e 3<<=s is a s%ar(er tool+ for t%e texts in t%e Marxist canon t%at referred to labor and 'alue 2if t%ey dont (resume t%e la& of 'alue7 could esca(e t%eir ne& textual razor) Labor and 'alue s%ould continue to (lay an im(ortant role in t%e antica(italist mo'ement+ according to Begri and "ardt+ but t%e cost of t%eir (reser'ation+ %o&e'er+ is t%at t%ey become somet%ing li!e unmeasurable #t%ings-in-t%emsel'es)0 Muc% t%at is .ualitati'e in Marxist t%eory mig%t sur'i'e+ but t%e .uantitati'e as(ects s%ould be totally eliminated (ost-Begri and "ardt) Is t%e Begri-"ardt criterion useful? $%ere are at least t&o reasons &%y it is not: 237 .uantit" is still a crucial as(ect of ca(italism+ and 2E7 t%e notion of subsum+tion %as .uantitati'e as(ects in t%e Marxs &or! t%at &ould ma!e it im(ossible to use t%e notion &%ile neglecting t%ese as(ects)

/uantity
Ca(italism im(oses an extremely .uantified form of life on its constituents) Indeed+ early (ost-Marx t%in!ers li!e 9immel and *eber identified ca(italism &it% t%e domination of .uantitati'e reasoning in social life &%ile early t&entiet% century #a'ant garde0 artists and &riters often (ictured t%e resistance to ca(italism as a re'olt against t%e rule of t%e number) 9urely+ any anti-ca(italist mo'ement must %a'e a .uantitati'e ca(acity to deal &it% suc% an ob'ious feature of its antagonist) Marx &as committed to creating a t%eory t%at could ex(lain ca(itals .uantitati'e c%aracter t%oug% %e &as not a (rofessional mat%ematician) E'en &it% t%is limitation+ %e (ro'ed to be sur(risingly successful in a number of %is mat%ematical efforts) "is most im(ressi'e ac%ie'ement &as (resaging t%e linear algebraic a((roac% to social re(roduction 2in *a+ital II7) 8f course+ %is lac! of formal training 2and t%e %orizon of mat%ematical tec%ni.ue during %is lifetime7 led to certain la(ses 2es(ecially in %is mat%ematical effort to sol'e t%e #transformation (roblem0 of con'erting 'alues into (rices of (roduction in *a+ital III)7 ut Marxs &or! definitely %as ser'ed as a #core0 for a researc% (rogram t%at %as generated an enormous amount of mat%ematical

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analyses of ca(italism and of (ost-ca(italist (ossibilities 2cf)+ "o&ard and Qing 3<<Ea and 3<<Eb7) Marxs assum(tion of t%e measurability of 'alue is crucial to t%e creation of %is .uantitati'e analysis of ca(italism) $%e La& of Value+ %o&e'er inter(reted+ clearly (resu((oses t%is measurability as does most of t%e ot%er .uantitati'e indices Marx uses in *a+ital from sur(lus 'alue+ to t%e rate of (rofit+ to t%e rate of ex(loitation+ to organic com(osition+ etc) Begri and "ardt c%allenge t%is assum(tion by claiming t%at t%oug% 'alue exists+ it is bot% outside and beyond measure in contem(orary ca(italism) y im(lication t%en+ t%e .uantitati'e as(ects of Marxs &or! must be reCected by t%eir criterion of 'iability) 8nly t%e .ualitati'e as(ects and relations of 'alue and li'ing labor+ e)g)+ t%e existence of ex(loitation+ in Marxs &or! &ould sur'i'e Begris and "ardts razor) ut %o& does one (ro'e t%at somet%ing is immeasurable? 8ne t%ing t%at t%e %istory of mat%ematics teac%es is t%at suc% (roof claims %a'e often (ro'en false) 8ne mig%t go bac! to one of t%e first #disco'eries0 of immeasurability+ t%e #irrationality of s.uare root of E+0 to remember t%e (recariousness of suc% claims) Indeed+ t%e 'ery notion of an #irrational0 number ex(resses t%e %orror of t%e initial confrontation of t%is anat%ema among t%e Jyt%agoreans) ut as Eudoxus and Euclid+ in t%eir t%eory of (ro(ortions+ (ointed out: t%e #irrational0 is (erfectly measurable 2a)!)a)+ rational7+ t%e (roblem is sim(ly t%at t%e met%ods of measurement cannot be limited to ratios of &%ole number units)4 Indeed+ one can loo! at t%e de'elo(ment of t%e notion of number as t%e continual confrontation &it% t%e #immeasurable0 t%at is t%en integrated into a enlarged domain of number) $%e 'ocabulary of mat%ematics is littered &it% terms li!e #imaginary number+0 #com(lex number+0 #transcendental number+0 #a cardinal number of an uncountable set0 t%at are semantic fossils of t%is transformation of t%e immeasurable into measurable) $%e difficulty in measuring 'alues 2including t%e notion of 'alue based on (references used in neoclassical economics7 is &ell !no&n and &as t%e source of debate e'en in t%e 3<t% century) $%ere &as no doubt t%at labor 'alue &as a #field0 .uantity and not a #substance0 .uantity t%en+ to use J%ili( Miro&s!is dic%otomy 2Miro&s!i 3<4<7) Marx certainly recognized t%e field as(ect of 'alue in %is many efforts to (oint out t%at 'alue of a commodity (roduced at (oint A mig%t be dramatically reduced 2or increased7 due to c%anges in t%e (roduction (rocess at (oint + t%ousands of miles a&ay) $%e field as(ect of 'alue .ua socially necessary labor time %as only

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intensified as ca(italism is globalized+ bio(oliticized and organized according to intricate di'isions of labor+ it is not ne&) ut #field measures0 are Cust as obCecti'e as #substance0 ones 2e)g)+ tem(erature of gases 'ersus 'elocities of indi'idual (articles7) $%ey are not #immeasurable0 sim(ly because t%eir measurement re.uires indirect and #con'entional0 met%ods)< Begri and "ardt base t%eir claim for t%e immeasurablity of 'alue on t&o grounds, %istorical and (%iloso(%ical) "istorically+ t%ey (oint to t%e arbitrariness and con'entionality in t%e measurement of 'alue in contem(orary ca(italism broug%t about+ (aradigmatically+ by t%e unilateral decou(ling of t%e dollar from gold and abrogation of t%e retton *oods accords by Jresident Bixon in August 3>+ 3<>3) $%is led to t%e ex(losion of a &orld&ide currency mar!et t%at &as not restrained by any commodity base 2li!e gold or sil'er7) ;rom t%en on+ Begri and "ardt claim+ t%e economic+ (olitical+ social and (ersonal &ea'e toget%er so t%at #in t%e globality of bio(o&er e'ery fixed measure of 'alue tends to be dissol'ed+ and t%e im(erial %orizon of (o&er is re'ealed finally to be a %orizon outside measure0 2"ardt and Begri E===: 64?7) $%at is+ t%e (ost-3<>3 (eriod of #free floating0 currencies is one &%ere t%ere is no economic determinant of t%e last degree) $%e (rices of commodities+ say Begri and "ardt+ are based on so many &o'en toget%er elements t%at it is im(ossible to see t%em as indicators of any one .uantity li!e socially necessary labor time) At best+ #t%e indexes of command De)g)+ currency exc%ange ratesH are defined on t%e basis of al&ays contingent and (urely con'entional elements0 2"ardt and Begri E===: 6557) "o&e'er+ Begri and "ardt (lace too muc% %istorical im(ortance on Bixons abolition of t%e gold standard in 3<>3) 8n t%e one side+ s(ecie-bac!ed monetary systems &ere al&ays subCect to #contingent and (urely con'entional elements0 from debasements to bullion ex(ort restrictions+ on t%e ot%er side+ t%e determination of t%e socially necessary labor time re.uired for t%e (roduction of a commodity ine'itably &o'e toget%er a &ide 'ariety of economic+ (olitical+ social and e'en (ersonal-cultural considerations in determining its 'alue) $%e (ost-3<>3 monetary en'ironment mig%t be more subCect to (olitical (o&er t%an t%e (re'ious (eriods+ but t%at does not gi'e us any reason to t%in! t%at Bixons fiat caused a %istorical lea( from t%e finite to t%e infinite in economic 'alue) After all+ one can %ardly claim t%at t%ere are no continuities in ratios of economic ratios 2e)g)+ of (rofitability+ exc%ange rates+ and ex(orts7 bet&een t%e (re- and (ost-3<>3 (eriods) $%e second source of Begris and "ardts reCection of t%e measure of 'alue is t%e e'ocation of a (%iloso(%ical curse) Begri and "ardt identify measurability &it% all t%at is intellectually %ateful to t%e rebel soul: #t%e great *estern meta(%ysical tradition+0
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#a transcendent order+0 #God+0 #cosmos+0 and #e(istemological (ro%ibitions+0 etc) Begri and "ardt a((arently belie'e t%at any claim to be able to measure a (%enomenon legitimates it and t%e social form it is a constituent of: #E'en Marxs t%eory of 'alue (ays its dues to t%is meta(%ysical tradition: %is t%eory of 'alue is really a t%eory of t%e measure of 'alue0 2"ardt and Begri E===: 6557) $%e curse attac%ed to measurability dee(ens &%en Begri and "ardt lin! it &it% #t%e transcendent0 and t%en (oint out #*%en (olitical transcendence is still claimed today DCGC: (er%a(s a good exam(le is &%en George *) us% e'o!es God as t%e ins(irer of t%e in'asion of Ira.H+ it descends immediately into tyranny and barbarism0 2Begri and "ardt E===: 6557) $%e im(lication being: if you insist on measuring 'alue+ t%en you are on t%e &ay to su((orting genocidal #s%oc! and a&e0 dis(laysL After suc% a (erformance+ our aut%ors rig%tly (ause to as!: #Are &e t%us sim(ly ma!ing a nonsensical ni%ilist claim &%en &e assert t%at in t%e ontology of Em(ire 'alue is outside measure?0 $%eir ans&er is #Bo+0 and t%en t%ey in'o!e + contra t%ose reactionary measuring (%iloso(%ers Aristotle+ "egel and Marx+ unnamed Kenaissance %umanists 2(er%a(s Jico della Mirandola+ Mac%ia'elli+ runo7 to su((ort t%eir o&n transcendental insistance t%at #no transcendent (o&er or measure &ill determine t%e 'alues of our &orld) Value &ill be determined only by %umanitys o&n continuous inno'ation and creation0 2"ardt and Begri E===: 65@7) *%at is t%e source of "ardts and Begris (%iloso(%ical curses and transcendental assurances? My ans&er is: "ardts and Begris confusion of t&o distinct !inds of s!e(ticism) ;or in agreement &it% Marxs trans'aluation of 'alue+ one mig%t .uestion t%e 'alue of 'alue and as! &%y indeed s%ould t%e 'alue of a commodity be #t%e material ex(ression of %uman labour ex(ended to (roduce t%em)0 $%is s!e(ticism to&ards t%e #false0 obCecti'ity of 'alue+ %o&e'er+ is often confused &it% a s!e(ticism to&ards t%e 'alue of obCecti'ity itself) *%ate'er one mig%t t%in! about t%e 'alue of obCecti'ity+ one s%ould not confuse s!e(ticism &it% regard to it and s!e(ticism &it% regard to t%e 'alue of commodity 'alues) ;or 'ery different arguments and considerations must a((ly in su((ort of eit%er) $%is confusion %as a tradition in t%e %istory of Marxism t%at goes bac! to Georg Lu!acs and continues to ot%er contem(orary t%eorists beside Begri and "ardt li!e Ao%n "ollo&ay D2Lu!acs 3<>37+ 2"ollo&ay E==E7H) ut it is a confusion Cust t%e same and I belie'e t%at it lead to Begri and "ardt .uestioning and e'en (utting a curse on measurement+ scientificity+ and any ot%er obCectifying (rocess)

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"o&e'er+ suc% a a((roac% &ould ine'itably dis.ualify t%ese t&o aut%ors from ex(laining t%e maCor (%enomena in contem(orary ca(italism 2(ostmodern or notL7 $%e most im(ortant being+ &%y is t%e a'erage rate of (rofit (ositi'e? Moreo'er+ t%eir Kenaissance insouciance to&ard measuring in a (ost-ca(italist &orld &ould stri!e anyone &%o is tem(ted to t%in! t%at #anot%er &orld is (ossible0 &it% fear and trembling+ for sI%e mig%t &onder %o& bread &ould be ba!ed in t%e measureless o'ens of t%e future) ;or bread ba!ing does re.uire !no&ing %o& many cu(s of flour must be mixed &it% %o& many cu(s of &ater to ma!e doug%+ i)e)+ t%ere is a 'alue to obCecti'ity) In ot%er &ords+ &%ate'er one t%in!s of t%e correctness of t%e Marxs texts dealing &it% t%e metrics of ca(italism and t%eir rele'ance to t%e debates on (ost-ca(italism+ t%ey at least entertain t%e (roblems t%at any ade.uate anti-ca(italist re'olutionary t%eory must (ose) $%e Begri-"ardt criterion &ould sim(ly relegate t%ese texts to t%e #dust bin of %istory0 and lea'e t%e anti-ca(italist mo'ement bereft of t%e only t%oroug%ly discussed body of t%oug%t on t%ese 'ital matters) Conse.uently+ t%eir criterion decisi'ely fails on t%is count)

9ubsum( tion
$%e second reason for t%e failure of t%e criterion is t%at it undermines t%e analysis of ca(italism t%at Begri and "ardt t%emsel'es (resent) In ot%er &ords+ t%eir criterions razor t%reatens to cut a(art t%eir o&n &or!) $%is is due Begris and "ardts enormous em(%asis on Marxs distinction bet&een formal and real subsum(tion of labor by ca(ital) $%ey use t%e term #real subsum(tion0 to refer to social-cultural (%enomena ot%er&ise associated &it% #(ostmodernism0 and &it% (roducti'e (%enomena ot%er&ise associated &it% #(ost-;ordism)0 It is t%eir (rimary Marxian loan &ord) $%is conce(tual mo'e is attracti'e+ but it certainly does not fit Marxs %istorical assum(tions) ;or Marx real subsum(tion &as not a t%ing of t%e #future+0 it &as fully (resent in %is time) Indeed+ %e de'ised a set of conce(tual (airs t%at (arallel eac% ot%er: ;ormal subsum(tion Absolute sur(lus 'alue Commodities exc%anged at 'alue Keal subsum(tion Kelati'e sur(lus 'alue Commodities exc%anged at t%eir (rice of (roduction Industries o(erating &it% a &idely dis(ersed com(osition

Most industries o(erating &it% a lo& organic com(osition

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$%ere are 'ertical as &ell as %orizontal relations bet&een t%ese columns of (airs) $%e 'ertical connections are logical and roug%ly as follo&s: *it% 'ormal subsum+tion of labor by ca(ital t%ere is little effort made to increase t%e (roducti'ity of labor and so t%e (roducti'e 2and re(roducti'e7 routines and tec%ni.ues used are largely #as is)0 Conse.uently+ t%e only &ay to increase sur(lus 'alue is by extending t%e &or!ing day 2i)e)+ t%roug% absolute sur+lus (alue creation7) 9ince t%ere is little in'estment in e.ui(ment+ t%e organic com+osition 2t%e ratio of constant ca(ital to 'ariable ca(ital+ i)e)+ in'estment in mac%ines and (lant7 is relati'ely and uniformly lo& in most industries and %uman labor 2direct a((lication of muscle+ bone and brain7 is t%e (rime #in(ut)0 Conse.uently+ t%e (rimary determinant and differential of exc%ange (alue is direct socially necessary labor-time) *it% real subsum+tion t%ere is a #re'olutionary0 a((lication of science and tec%nology to t%e (roducti'e (rocess ma!ing it (ossible to decrease t%e necessary (art of t%e &or!ing day and to intensify its (roducti'e density 2%ence (roducing relati(e sur+lus (alue7) $%is leads to a great 'ariety of in'estment (ossibilities bot% &it%in and among branc%es of (roduction+ %ence t%ere de'elo(s an immense (ertical s+ectrum o' organic com+osition +ossibilities 2from almost labor-less (roduction in atomic (o&er (lants to labor-intensi'e (roduction in s&eat s%o(s and (lantations7) 9ince any source of commodities must be o&ned and in'ested in by ca(italists+ t%ey &ill demand an e.ual rate of (rofit as t%eir bret%ren 2in t%e long run7 e'en if #t%eir0 &or!ers (roduce next to no sur(lus 'alue) In ot%er &ords+ t%ese ca(italists &ill demand the +rice o' +roduction 2i)e)+ t%e sum of t%eir constant ca(ital and t%eir 'ariable ca(ital (lus t%e (roduct of t%is sum and t%e rate of (rofit7 in 'alue terms instead of t%e actual 'alue of t%eir commodities) $%e %orizontal relations among t%e ro&s of (airs are %istorical+ in t%e sense t%at ca(italism tends to mo'e from t%e left to t%e rig%t element of t%e (air simultaneously) $%at is &%y Marx &rites in t%e )rundrisse t%at t%e notion of 'alue #ex(lodes0 in t%e (eriod &%en science and tec%nology ta!es an increasing role in t%e (roduction (rocess in many industries 2Marx 3<>6: >=57) ;or in t%ese industries t%ere is no correlation bet&een t%e labor-time ex(ended t%ere and t%e (rice of t%e commodities sold) ut it is not t%at t%e 'alue of t%ese commodities is immeasurable) Marx introduces a notion of #(rice of (roduction0 after t%e )rundrisse to (oint out t%at t%is situation &ill not automatically lead to a fundamental brea!do&n in ca(italism) 8n t%e contrary+ t%e

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(rices of t%e commodities (roduced in many branc%es of (roduction &it% relati'ely little labor %a'e a mat%ematically determined c%aracter: t%eir (rice of (roduction includes sur(lus 'alue created in ot%er branc%es of (roduction of lo&er organic com(osition in (ro(ortion to t%e ca(ital in'ested in t%e industry) Conse.uently+ Begri and "ardt use of Marxs notion of subsum(tion 2formal and real7 is fundamentally distorted+ because for Marx t%is notion is logically connected &it% 'alue (%enomena 2indeed &it% t%e la& of 'alue as ex(ressed in t%e notion of t%e (rice of (roduction7) A Cudicious a((lication of t%e Begri-"ardts criterion &ould cut off t%e 'ery Marxian conce(t t%at t%ey %o(ed to sa'e and %ence mangle t%eir o&n texts) ;or any suc% criterion needs to conser'e t%e logical structure of t%e text it is o(erating on) Anot%er conse.uence of my textual analysis of Marxs &or! is t%e recognition t%at Marx &as not (ro(%esying about t%e dee( future &%en %e &as &riting in t%e )rundrisse about (roduction being dominated by mac%ines and t%eir o(erators becoming mere a((endages) 8r+ at least+ %e turned t%at (ro(%etic 'ision into an e'eryday obser'ation by t%e time %e described an #organized system of mac%ines0 in *a+ital I 2Marx 3<>@: 5=67) $%e moment of real subsum(tion %ad already occurred in #modern industry0 along &it% t%e allied 'alue (%enomena: increasing relati'e sur(lus 'alue creation+ increasing organic com(osition differentials+ and increasing de'iation of (rices of (roduction from 'alues) $%ese tendencies &ere common (%enomena in t%e mid-3<t% century as &ell as in t%e beginning of t%e E3st century) #General Intellect0 and #immaterial labor0 are not in'itations to go beyond ca(ital+ as Begri and "ardt claim+ but rat%er %a'e al&ays been (art of t%e &or! ca(ital %as ex(loited &%et%er it &as &aged or notF t%e recent crisis of t%e #Be& Economy0 2t%e ca(italist ex(ression of Begris and "ardts #real subsum(tion0 descri(tion7 %as s%o&n t%at t%e amount of labor in'ol'ed in com(uterized labor does not c%ange t%e dynamics of ca(italist accumulation) angalores %ig% tec% &or!ers are more terrifying to :9 #symbolic analysts0 t%an t%e $aliban fig%ters in Qanda%ar because t%ey are t%eir real com(etitors in t%e international labor mar!et) In fact+ t%e La& of Value %as been most tyrannical in t%e current neoliberal (eriodL Any reading of t%e financial (ress and economic (olicy ma!ers (ositions statements &ould gi'e one t%e im(ression t%at t%e La& of Value+ as usually understood+ is a truism) 9urely &%at is t%e (rescri(tion for any economic (roblem but more disci(line of labor+ more labor flexibility and (roducti'ity+ a reduction of labor costs+ and so on? $%is is so ob'ious one must be incredulous in %earing t%e snide comments academic economists ma!e about t%e la& of 'alue) 8f

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course+ if you &ant your (roducts to com(ete on t%e &orld mar!et you need to reduce t%e socially necessary labor time re.uired to (roduce t%em+ by any means necessary) y a((lying to "ardts and Begris t%eory Marxs obser'ations of &%at occurs to social (erce(tion in t%e transformation from formal to real subsum(tion one can understand %o& Marx &ould ex(lain &%y Begri and "ardt mig%t be tem(ted to reCect t%e La& of Value) *%en one mo'es bot% mentally and socially from t%e items on t%e left column of our $able to t%ose on t%e rig%t a (rocess of occlusion and obli'ion (re'ails: t%e (roducti'e (o&ers of labor seemed to be transferred to t%ose of ca(ital) As Marx &rites in *a+ital III0 Ca(ital t%us becomes a 'ery mystic being+ since all of labours social (roducti'e forces a((ear to be due to ca(ital+ rat%er t%an labour as suc%+ and seem to issue from t%e &omb of ca(ital itself)))Bot only does it a((ear so but it is true in fact t%at t%e a'erage (rices Dof (roductionH of commodities differ from t%eir 'alue+ t%us from t%e labour realised in t%em+ and t%e a'erage (rofit of a (articular ca(ital differs from t%e sur(lus 'alue &%ic% t%is ca(ital %as extracted from t%e labourers em(loyed by it)))Bormal a'erage (rofits t%emsel'es seem immanent in ca(ital and inde(endent of ex(loitation 2Marx 3<@@: 4E>-<7 Begri and "ardt sim(ly in'erted t%is mysticism of ca(ital to a mysticism of an immeasurable 'alue-creating labor (rocess) $%oug% Marx clearly belie'ed t%at o'er time t%e second column of (%enomena under #real subsum(tion0 in t%e $able becomes more dominant t%an t%e first+ it ne(er becomes a totalit" as long as ca+italism continues to e$ist because o' the crises associated /ith the 1alling 2ate o' -ro'it. $%at is+ if t%e branc%es of %ig% organic com(osition increase &it%out limit+ t%e rate of (rofit &ill fall to zero)))unless t%ere are counter'ailing forces t%at s%ift t%e &eig%t bac! to t%e column of formal subsum(tion) $%e maCor counter'ailing force is t%e creation of ne& areas of absolute sur(lus 'alue creation among (o(ulations t%at are formally out of t%e ca(italist system+ eit%er due to t%eir ability to (reser'e t%eir (re-ca(italist subsistence economy in t%e face of centuries of ca(italist t%reat or due to t%eir ability to recreate some ne& form of nonca(italist subsistence in (ost-colonial or (ost-ca(italist settings) In conclusion+ Begris and "ardts use of t%e notion of subsum(tion detac%ed from t%e La& of Value in e'en its more restricted sense is (roblematic+ for t%e notions of real and formal subsum(tion in Marxs texts are (art of a net&or! of conce(ts defined in labor-'alue terms li!e organic com(osition+ sur(lus 'alue+ (rice of (roduction) y stri((ing #subsum(tion0 from #labor-'alue0 discourse Begri and "ardt (ro'ide only a
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distant a((roximation to Marxs conce(t to t%e (oint t%at it a((ears to be a little li!e t%e imaginary togas of t%e ;renc% re'olutionaries of 4<)

Conclusion: A

ro!en "eart?

#Mr) Qenge+0 said Allan+ a((earing enlig%tened all in a moment) #Excuse me+ our time (resses) 1o I understand t%at t%e &%ole estate is found to %a'e been absorbed in costs?0 #"emL I belie'e so+0 returned Mr) Qenge) #Mr) V%oles+ &%at do "ou say?0 #I belie'e so+0 said Mr) V%oles) #And t%at t%us t%e DAarndyce and AarndyceH suit la(ses and melts a&ay?0 #Jrobably+0 returned Mr) Qenge) #Mr) V%oles?0 #Jrobably+0 said Mr) V%oles) #My dearest life+0 &%is(ered Allan+ #t%is &ill brea! Kic%ards %eartL0 ,C%arles 1ic!ens+ Bleak House 234567 Begri and "ardt (resented a relati'ely sim(le criterion for determining &%at (art of Marxs &or!s are still rele'ant to t%e struggles of t%e anti-ca(italist mo'ement in t%e E3st century) My reCection of t%eir criterion is not only a reflection on t%e limitation of t%eir effort+ %o&e'er) $%eir failure+ &%en added to t%e more t%an %alf century-long failure of efforts to de'ise a satisfactory criterion to determine t%e #true0 Marx+ t%e #scientific0 Marx+ t%e #%umanistic0 Marx+ t%e #subCecti'e0 Marx+ or t%e #re'olutionary0 Marx is e'idence for a &ider claim t%at a((ears on our %orizon: no criterion &ill be able to create a dic%otomy among Marxs texts t%at &ill isolate t%e acce(table !ernel for todays anti-ca(italist mo'ement) Is t%e result of t%is essay+ t%en+ t%at Marxs texts cannot be used for t%e antica(italist mo'ement or t%at t%e cost of #sa'ing0 Marxs legacy %as used u( its 'alue+ as t%e Aarndyce and Aarndyce suit used u( t%e Aarndyce estate in Bleak House? Is t%is a (rescri(tion for suffering &it% a Marxist bro!en %eart? Bo) It is a call+ %o&e'er+ for de'etishi3ing t%e 'ast collection of texts t%at come to t%e anti-ca(italist mo'ement under t%e name of Marx or+ to use anot%er meta(%or+ for Marxs texts to be used as a common instead of as a memorial +ark) Marxs texts s%ould not be seen as a legacy) "e set t%e model for dealing &it% %is texts in t%e &ay %e related to t%e texts of t%e (olitical economists+ t%e (%iloso(%ers+ t%e c%emists+ mat%ematicians+ biologists and (%ysicists of %is day) "e #borro&ed0 massi'ely from t%em &it%out a(ology and &it%out (ermission) If an organic c%emistry model &or!ed in describing t%e micro-exc%anges t%at made u( t%e re(roduction 2and ru(ture7 of ca(ital+ Marx used it) If a (iece of

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"egels dialectical logic &ould ma!e t%e (oint %e &anted to ma!e+ %e #co.uetted0 &it% it) Marx &as a s%ameless bricoleur on t%e commons of !no&ledge) At t%e moment+ unfortunately+ Marxs texts are treated li!e nuggets of al&ays fluctuating (olitical exc%ange 'alue instead of use 'alues for anti-ca(italist t%oug%t and action) ;or exam(le+ t%e century-long discussion of t%e transformation of 'alues into (rices #(roblem0 re'ol'es around t%e 'indication or t%e (ublic %umiliation of Marxs texts instead of &%et%er t%is transformation tells t%e anti-ca(italist mo'ement anyt%ing useful about t%e structure and 'ulnerability of ca(italism) $%e struggle o'er t%e transformation (roblem %as been largely a game of #gotc%a0 &it% t%e bourgeois academics 2&%ene'er t%ey are (olitically t%reatened7 (ointing out t%e logical and mat%ematical infelicities of *a+ital III and Marxists running to (ro'ide e'er more &eig%ty mat%ematical retorts) $%e animus on all sides of t%e debate is a struggle of &ort% 2of t%e (reser'ation of tradition and %onor7 instead of use) ut t%e !ey .uestion in t%is matter is: does t%e transformation of 'alues into (rices %a'e ex(lanatory (o&er to %el( in understanding t%e structure of ca(italism or not? *%at are t%e areas t%at t%is transformation %el(s to ex(lain t%e o(eration of ca(ital? If t%ere are suc% areas 2e)g)+ in t%e examination of #une.ual exc%ange0 or of t%e #energy crisis07+ t%en t%e logical and mat%ematical difficulties can and &ill be o'ercome) ;or as any student of t%e %istory of science !no&s+ t%ere are no interesting t%eories &it%out logical and mat%ematical infelicities 2.uantum mec%anics and general relati'ity t%eory included7)

Botes
3) $%e study of anti-ca(italism in t%e (re-Marx (eriod is becoming increasingly so(%isticated) $&o im(ortant recent boo!s in t%is literature are 2;ederici E==?7 and 2Linebaug% and Kedi!er E==37) $%e first deals &it% t%e anti-ca(italist struggle at t%e originary moment of ca(italism 2in t%e fifteent%+ sixteent% and se'enteent% century7 and t%e second &it% t%e rise of anti-ca(italist mo'ements in t%e Atlantic &orld during t%e se'enteent% and eig%teent% centuries) An im(ortant collection of immediately (re-Marx communist &ritings is to be found in 2Corcoran 3<467) $%e term #anti-ca(italist mo'ement0 t%at I am using %ere is broader 2bot% tem(orally and socially7 t%an t%e one de'elo(ed by Alex Callinicos in %is to t%e (ost-9eattle mo'ement against t%e G-4+ *$8+ *orld an! and IM;) n nti4 *a+italist #ani'esto 2Callinicos E==67+ &%ere %e relegates t%e referent of t%e term

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E) Instead of+ for exam(le+ ex(anding of t%e notion of 'alue into t%e realm of t%e labor of re(roduction or into t%e natural en'ironment+ as ad'ocated by some feminists and ecologists) ;or efforts along t%ese lines see 21alla Costa 3<>67 and 29alle% 3<<>7) 6) ;or acerbic accounts of t%ese debates see 29teele 3<<E7 and 2Kutland 3<457) "o&e'er sourly one mig%t de(ict t%ese debates+ t%ey are still im(ortant to study for any mo'ement t%at &ants to say more t%an #Anot%er *orld is Jossible)0 ;or &it%out saying more+ one is in t%e (osition of being a logician instead of a re'olutionary) ?) $%is de'elo(ment &as described retros(ecti'ely by t%e neo-Qantians li!e 9immel and Cassirer in t%e early E=t% century D29immel 3<<=7+ 2Cassirer 3<E67H) 5) 9imilar to t%e neo-Qantian criti.ue of Marx+ J%ili( Miro&s!is main criticism of Marx is t%at %e &as not attenti'e to t%e transformation of substance to field t%eories in t%e (%ysics of %is day 2Miro&s!i 3<4<7) "e claims t%at Marxs economics &as still #substance0 based and t%at %e sa& labor as a substance 2li!e caloric7 t%at is stored in t%e commodity) ut t%is criti.ue is off t%e mar! for t&o reasons: 2i7 Marx &as .uite familiar &it% t%e de'elo(ment of field t%eories in (%ysics and 2ii7 %is notion of #social necessary labor time0 &as a #field0 conce(t since it can c%ange inde(endent of t%e local condition of (roduction) @) It is interesting t%at in t%e late 3<>=s "arry Clea'er and Begri &ere e.ually interested in reading Marxs texts #(olitically)0 $%ey (ublis%ed t%eir results nearly simultaneously 2Clea'er in 3<>> and Begri in 3<><7) In doing so+ Begri ex(unged C%a(ter I of *a+ital I from t%e roster of #.uic!0 texts of Marxism since it clearly &as de(endent u(on t%e La& of Value and labor-'alue discourse) Clea'er reCects t%is conclusion in %is Introduction to #ar$ Be"ond #ar$ and tries to #sa'e0 all of Marxs &ritings 2Begri 3<4?: xx'ii7) >) Begris and "ardts im(lication being t%at t%ere &as a %istorical era &%en (o&er could calculate and order (roduction at a global le'el) $%e (eriod of t%e gold standard is t%e most li!ely candidate for suc% an era+ since gold became t%e common standard of &orld trade t%en) 8ne could directly measure t%e 'alue of a commodity any&%ere) 4) In t%e early t&entiet% century t%ere &as muc% discussion about !inds of measurements t%at (arallel t%is discussion of substance 'ersus field .uantities) $%ese included direct 'ersus indirect measurements and extensi'e 'ersus intensi'e

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measurements) $%us t%e measurement of lengt% &ould be direct and extensi'e measurement+ &%ile t%e measurement of tem(erature &ould be indirect and intensi'e 29a'age and E%rilc% 3<<E: E-67) <) According to t%e legend+ t%e Jyt%agoreans bot% disco'ered t%e #irrationality of t%e s.uare root of t&o0 and !e(t it %idden+ t%reatening to !ill any member of t%eir society t%at re'ealed it to outsiders) $%e (roof is 'ery sim(le and+ if one belie'ed t%at only t%ose entities t%at can be ex(ressed by ratios of &%ole numbers are measurable+ t%en t%e s.uare root of E 2and infinite ot%er suc% entities7 &ould be immeasurable) $%e solution to t%is (roblem &as de'ised by Eudoxus and later formalized by Euclid) "e denied t%e definition of same ratio as t%e follo&ing: JI/ is said to be t%e same as RIS &%en+ m and n being any 2(ositi'e7 integers &%ate'er+ mR is greater t%an+ e.ual to or less t%an nS according as mJ is greater t%an+ e.ual to+ or less t%an+ n/ 2Qoslo& 3<<E: 3537) In ot%er &ords+ t%e test for (ro(ortional e.uality is infinite+ but determinate)

ibliogra(%y
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