by
David Harvey
51
Money as the Representation of Value
2
terms
2
notes
dialectic
(en)
a discourse between two or more people holding different points of view about a subject but wishing to establish the truth through reasoned arguments
52
We should think of money and value as autonomous and independent of each other but dialectically intertwined.
notable
6 years, 7 months ago
We should think of money and value as autonomous and independent of each other but dialectically intertwined.
notable
6 years, 7 months ago
61
[...] What originally appeared as a means to promote production becomes a relation alien to the producers. As the producers become more dependent on exchange, exchange appears to become more independent of them. Money is introduced as the servant of exchange but soon becomes its despotic master. Adam Smith's 'hidden hand' begins to take over. [...]
I like the analogy (aligns with mine for capitalism as a whole)
[...] What originally appeared as a means to promote production becomes a relation alien to the producers. As the producers become more dependent on exchange, exchange appears to become more independent of them. Money is introduced as the servant of exchange but soon becomes its despotic master. Adam Smith's 'hidden hand' begins to take over. [...]
I like the analogy (aligns with mine for capitalism as a whole)
62
The irony is that the need to find a physical material representation for social values led to the adoption of an unimpeachable metallic base (gold and silver) for money that was so dysfunctional for daily use that it required symbolic representation of itself (paper and electronic moneys) to be effective. The symbolic moneys gradually became more dominant as trading expanded. Cutting out the metallic base in the early 1970s produced two symbolic systems--value and money--side by side in an awkward dialectical embrace.
can you think of value and money as being like the signified/signifier in a Saussurean view of language? or money as a Wittgensteinian language game
The irony is that the need to find a physical material representation for social values led to the adoption of an unimpeachable metallic base (gold and silver) for money that was so dysfunctional for daily use that it required symbolic representation of itself (paper and electronic moneys) to be effective. The symbolic moneys gradually became more dominant as trading expanded. Cutting out the metallic base in the early 1970s produced two symbolic systems--value and money--side by side in an awkward dialectical embrace.
can you think of value and money as being like the signified/signifier in a Saussurean view of language? or money as a Wittgensteinian language game
valorization
(en)
give or assign a value to, especially a higher value: "The prophets valorized history"
68
The incentives for money capital to skip investing in valorisation, particularly when the profit rate is low or labour relations troublesome, are multiple
notable
6 years, 7 months ago
The incentives for money capital to skip investing in valorisation, particularly when the profit rate is low or labour relations troublesome, are multiple
notable
6 years, 7 months ago