Dialogue with Patrick Murray on the Value-Form Paradigm, Part 2 -- Ep. 26

Brendan and Andrew continue their dialogue with Patrick Murray, the noted value-form theorist. (The value-form paradigm is a Marx-inspired strand of political economy that focuses on the market.) Patrick responds to Andrew’s arguments that Marx’s views on the origin of profit, intra-firm trade, and the quantity theory of money presuppose that commodities’ prices are determined before they are sold. And, as in Part 1 (https://www.marxisthumanistinitiative.org/episode-25-dialogue-with-patrick-murray-on-the-value-form-paradigm-part-1), much of the discussion focuses on whether, in Marx’s theory, a commodity’s value is only potential before it is sold; whether “co-constitutive” value-form theory collapses into a more extreme version; and whether Marx held that the magnitude of a commodity’s value is determined exclusively by the amount of labor that is socially necessary to produce it. Throughout the discussion, frequent reference is made to: a published symposium (http://copejournal.com/critique-of-political-economy-vol-1/) on the value-form paradigm, in which Andrew (http://www.copejournal.com/wp-content/uploads/2015/12/andrew-kliman-on-capitalism_s-historical-specificity-and-price-determination.pdf) and others criticized the paradigm, while Patrick (http://www.copejournal.com/wp-content/uploads/2015/12/patrick-murray-avoiding-bad-abstractions.pdf) responded to them; Part 1 (https://www.marxisthumanistinitiative.org/episode-17-the-value-form-paradigm-vs-marxs-capital-part-1) and Part 2 (https://www.marxisthumanistinitiative.org/episode-18-the-value-form-paradigm-vs-marxs-capital-part-2) of the recent RFH discussion of “The Value-Form Paradigm vs. Marx’s ‘Capital’”; and Marx’s Capital, especially chapter 1 (https://www.marxists.org/archive/marx/works/1867-c1/ch01.htm) and chapter 3 (https://www.marxists.org/archive/marx/works/1867-c1/ch03.htm) of volume 1. Plus: current-events segment on our attitudes to the Democratic Party and Jill-Stein voters, in response to a listener’s comments. * ~ * ~ * ~ * Radio F