The Value-Form Paradigm vs. Marx’s “Capital,” Part 2 -- Ep. 18

The second half of a two-part interview on the “value-form paradigm”—a Marx-inspired and market-focused strand of political economy. Some years ago, the noted value-form theorist Patrick Murray (http://copejournal.com/wp-content/uploads/2015/12/patrick-murray-avoiding-bad-abstractions.pdf) responded to criticisms of the paradigm, leveled by Andrew (http://copejournal.com/wp-content/uploads/2015/12/andrew-kliman-on-capitalism_s-historical-specificity-and-price-determination.pdf) and others in a published symposium. (http://copejournal.com/critique-of-political-economy-vol-1/) In this episode––guided by Brendan’s questioning, and for the first time anywhere––Andrew continues his reply to Murray. The co-hosts discuss the source of profits, the quantity theory of money, and intra-firm trade. The discussion focuses on Andrew’s argument that the implications of the value-form paradigm contradict what Marx wrote about these issues, and on Murray’s attempts to explain away the apparent contradictions. Andrew explains why he finds Murray’s rebuttals to be unsuccessful. The segment includes references to chapter 3 (https://www.marxists.org/archive/marx/works/1867-c1/ch03.htm) and chapter 5 (https://www.marxists.org/archive/marx/works/1867-c1/ch05.htm) of Capital, volume 1, and to Marx’s draft chapter, “Results of the Direct Production Process.” (https://www.marxists.org/archive/marx/works/1864/economic/ch01.htm) In the current-events segment, the co-hosts respond to a recent “anti-neoliberal left” piece in Salon (https://www.salon.com/2020/05/09/you-dont-owe-joe-biden-anything-shaming-the-left-is-immoral--and-bad-politics/), in which Varsha Gandikota-Nellutla once again puts the political interests of “the left” ahead of the life-and-death struggle against Trumpist reaction. * ~ * ~ * ~ * Radio Free Humanity is a podcast covering news, politics and philosophy from a Marxist-Humanist perspective. It is co-hosted by Brendan Cooney and Andrew Kliman. We intend to release new episodes every two weeks. Radio Free Humanity is sponsored by Marxist-Humanist Initiative (MHI), but the views expressed by the co-hosts and guests of Radio Free Humanity are their own. They do not necessarily reflect the views and positions of MHI. We welcome and encourage listeners’ comments, posted on this episode’s page of the MHI website. Please visit MHI’s website for information on philosophy & organization, Marxist-Humanist archives, and its online publication, “With Sober Senses”: https://www.marxisthumanistinitiative.org/