Production vs. Realisation in Marx's Theory of Value: A Reply to Kincaid

Authors: Fine, Ben¹; Saad-Filho, Alfredo²

Source: Historical Materialism, Volume 16, Number 4, 2008 , pp. 167-180(14)

Publisher: BRILL

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Abstract:

In a review of our work, Kincaid suggests that we are 'productivist', reducing interpretation of Marx and capitalism to production at the expense of the relatively independent role that can be played by the value-form in general and by the money-form in particular. In response, we argue that he distorts interpretation of our work through this prism of production versus exchange, unduly emphasises the independence of exchange to the point of underconsumptionism, and simplistically collapses the mediation between production and exchange in the restructuring that accompanies the accumulation of capital.

Keywords: MARX; CAPITAL; PROFIT; COMPOSITION OF CAPITAL; MONEY; VALUE THEORY; KINCAID

Document Type: Research article

DOI: http://dx.doi.org/10.1163/156920608X357774

Affiliations: 1: Department of Economics, School of Oriental and African Studies 2: Department of Development Studies, School of Oriental and African Studies

Publication date: 2008-11-01