The Wolf Report: My Personal Very Own Introduction to Capital, Volume 1
26 August, 2012 — The Wolf Report: Non-confidential analysis for the anti-investor
Not that anyone asked me, and particularly not that anyone not asking me has ever stopped me from doing anything, but I thought I would provide my own introduction to Volume 1. The usual disclaimers apply– I’m right, or pretty close to right, or closer to right than anyone else, or almost anyone else. Those who really understand Marx will agree that I’m right, or pretty close to right, or closer to right than almost anyone else, except, of course themselves. And I agree with them. All of them.
When Marx is going through all the iterations of value, of the exchange forms, relative and equivalent, what is he doing? He is engaging, in essence, a single question: “How is it that the usefulness of an object, a use-value, gets translated into, and expressed as, the exchangeable value of all other objects?”