MDK Academy #13 – An argument for the Monetary Value Theory

An argument for the "Monetary Value Theory"
Input by Kristofer Pitz

Wednesday | December, 7th | 7pm

There are a lot of different interpretation of Karl Marx’ theory of capitalism in »Capital«. A central matter of dissent between the different approaches is the question of value theory. Is it possible to construct the value of commodities without reference to money? Is the production or exchange the origin of value? How is it possible to put the form of value and the form of money into a relation? This input will give an introduction into the monetary theory of value. The central line of argumentation is, that value is assigned to commodities in exchange and universal exchange of commodities is only possible if it is intermediated by money. This means, that empirically value can only appear in the form of money. To put it the other way round: Without money, there is no value.

The presentation will substantiate this line of argument at length. It will also be discussed, what the notion of value as a “non-empirical category” (Michael Heinrich) means and why money is the empirical form of appearance of this category. The input will also introduce alternative theoretical approaches and point out their central problems of argumentation. Last but not least there will be space for discussions about the political implications of the different theories.

The speaker is currently studying Social Theory at Friedrich Schiller University Jena.

In keeping with our current reading of Marx in the Museum, we will deal with Marx's "Monetary Value Theory" and its different interpretations on Wednesday, December 5th, at 7pm. Free event and barrier-poor location. All up-to-date-Information also on Facebook.