Currently, there is resurgence in scholarship on Marxian conceptions of value. However, much of the discourse has remained within the realms of heterodox economics, political economy, and philosophy. I would like to set out a new line of inquiry, which shifts the aims of this research from the abstract and quantitative toward the concrete and qualitative. Following this line, we will investigate aspects of the Marxian conception of value in relation to the way capitalism actual functions. This entails combining detailed examinations of the real-world experiences of work with a value-[in]formed political economic critique of employment relations.
Marx’s theory of value gives us a tool for understanding the dynamic process of capitalist exploitation that overcomes the fragmentation of that experience. To quote Diane Elson:
What Marx’s theory of value does is provide a basis for showing the link between money relations and labour process relations in the process of exploitation. The process of exploitation is actually a unity; and the money relations…
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