.... Self-identification as Capital is what it is to be an explosion, rather than 'someone' transcending, tending, observing, or seeking to control an explosion.
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Replying to @Outsideness @ObCap and
... As for the LTV, it is a notion theoretically obliterated by Böhm Bawerk: https://mises.org/library/karl-marx-and-close-his-system … As already by Marx through formulation of the Transformation Problem.
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Replying to @Outsideness @ObCap and
The most immediate problem I see with BB's critique is that Marx himself - in his letters to Engels concerning Dühring, in his Contribution to the Critique of Political Economy, and in other places - reflected on the inability to determine price through the measure of value...
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Replying to @EBBerger @Outsideness and
which isn't a reflection of a theoretical deficit, but of a contradiction that you yourself tacitly affirm when you discussed the Jehu thesis (LTV tracking diminishing elements, that is the human-value complex in the production process).
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Replying to @EBBerger @Outsideness and
Jehu recognizes this as the self-negation of capital, which isn't to say that it is a wind-down of development, but actually the opposite: it's the unshackling of fetters, because its striking out the necessity of realizing surplus value as systemic motor.
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"Yeah, but capital is such a shit-storm of practical contradiction that rigorous reductio doesn't prove anything" isn't going to cut it except among true believers.
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Replying to @Outsideness @EBBerger and
... The fact that Marx himself gave up on his (theoretical) project after reaching this point says something, surely? ...
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After formulating the Transformation Problem. It's not really controversial. Given the long-awaited critical edition of the Marx corpus it's stark. ...
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Replying to @Outsideness @ObCap and
The formulation of the transformation problem was conducted ahead of Volume I being published (mid-1860s), and the letters to Engels wrt to Dühring and price-value determination occurred later (late 1860s)...
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So what's the answer? There isn't one. Jehu clearly accepts that. "Hey, all this theoretical analysis of Capital is just bullshit because practical contradiction." C'mon.
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Replying to @Outsideness @ObCap and
There's two (potential) solutions: 1) The transformation problem as illustrating an unsolvable contradiction (which is what Marx suggests in the aforementioned letters, what Jehu argues, and what I lean to) 2) The Kliman solution, which frankly I'm not sure about
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Replying to @EBBerger @Outsideness and
isn't there the Austrian one, that "value" isn't really defined by "socially necessary labor time"?
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