Date: Tue, 1 Aug 1995 00:30:49 -0800 From: djones-AT-uclink.berkeley.edu (jones/bhandari) Subject: CORRECTED: uv/Sweezy This is the same post which I have already sent, free of the more egregrious spelling and grammatical errors. I was so nervous about sending the last one that for some reason I did not proofread it. I apologize for the inconvenience, and will surely be more careful in the future. Yours, Rakesh Bhandari Speaking of Rosdolsky's comments on the use-value/value dialectic, Steve writes > > >he can therefore be read as proof that the Hilferding/Sweezy approach-- >which dismisses the concept of use-value completely--is erroneous, Steve, I have recently read your papers, as well as last year's replies by Fred Moseley (I'll have to ask Juan to resend his to me). In my opinion the most signficant controversy was over over your claim that the means of production can be productive of value, that once Marx had discovered the dialectic of use-value and exchange value, he unconvincingly confined to the use-value of the commodity labor power the capacity to create value. You took it as more potentially significant that use-value itself (i.e., the use value of labor power) had something to do with value production than that the use-value of which Marx was speaking here was labor and labor only--a point emphasized by Fred. In terms of the value contribution of constant capital, your argument confuses in my opinion the contibution of constant capital to the *value* of the total product with the assistance better machinery makes to the production of ever more *use values*, which indeed seem increasingly out of proportion in their sheer quantity to the actual value of that immense accumulation of commodities, to each unit of which machinery transfers less and less value. Note here that what is emphasized is the reduction in socially necessary labor time required to re-produce each unit. This point is quite in line with much of Sweezy's discussion of value theory. As Sweezy pointed out, Marx understood the passivity of demand in generating such dynamic advances in productivity, and Sweezy gives very important reasons for critiquing the determining role given to demand by modern economics (p. 51). To this day, modern neo-classical economists have not understood this point. This is why the contemporary bourgeois economist Nathan Rosenberg in his latest collection of essays can use his Schumpeter to destroy the neo-classical edifice. Sweezy uses Schumpeter to confirm a Marxist critique of subjective value theory and the treatment of use value in marginalism. You are in my opinion taking Sweezy's dismissal of use value out of context. But there is more to this than Sweezy's eminently Marxist emphasis on production as determinant of economic motion over the role played by exchange and consumption, one of Sweezy's main points in devaluing the questions about use-value, a point about which you do not comment in your critique of his putatively dismissive treatment of use value. Sweezy clearly writes: "This does not mean that use value should play no role in economics. On the contrary, just as land, though not an economic category itself, is essential to production, so use value is a prerequisite to consumption...and in no sense excluded by Marx from the causal chain of economic phenomena."(p. 26-27) Here Sweezy says use value in the way conceived by Lionel Robbins and others is irrelevant to the qualititative problems which he is probing, in particular his exploration of fetishism. Then Sweezy attempts to translate Marx's seemingly Hegelian language into one which is accessible to to a beginning student (his express intent, one which I appreciate very much) and to shift the object of political economy altogether-- from a study of the relation among things to a study of a historically specific mode for the allocation of social labor time and the relation of classes within that mode. What's your objection to this? Postone has developed a critique of an overemphasis on the *distribution* of total social labor to the neglect of developing a critique of *historically determinate forms of production* but what is your critique? To critique Sweezy's dismissal of use value without saying under what restricted conditions and for what specific purposes he does so seems quite unfair to me. Moreover, Sweezy then emphatically points out that demand cannot be abstracted from in the study of even the qualitiative value problem which he so clearly defines. In other words, though commodities are not use values for not their owners they must be social use values, use values which--though produced privately for exchange and profit--must be social useful (pp.48-49). And here one of Marx's main points about the role of use value in his thought, a point made in his Notes on Wagner, is emphasized by Sweezy, yet you argue that he has completely distorted Marx's Marginal Notes on Wagner. This is completely untenable. After I made some (very) late night comments about a week ago about Sweezy's text in relation to Blake's--which I deeply regret and was glad to see that they had not made the list, only for them to show up one day later--I have been rereading Sweezy's text, and there is much to be learned from it. I deeply regret those comments. For example, Sweezy makes some extremely important comments on Marx's method of abstraction and, more significantly, Lenin's superiority over Hilferding on the role of banks in the stage of imperialism. I have been waiting for an opportunity to ease my own conscience, and I thank you Steve for the opportunity which you have provided me! Rakesh Bhandari --- from list marxism-AT-lists.village.virginia.edu --- ------------------
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