| This question <486-1|13> overall <8|10> Maka: <485|131>. |
| Question 18: If Marx wanted to start his book with first principles, why did he pick the analysis of the commodity and not the analysis of the labor process or the analysis of value? |
| [9] Maka: The analysis of the commodity is vital to the understanding of the first principles because it is the basic building block of capitalism. The goal is individual wealth for the capitalist and the means to achieve this is through commodities, either use value or exchange value. As stated by Marx in 125:2, the elementary form of wealth is commodities, or in other words, everything that is produced is for sale. |
| This can be compared to the analysis of Option Contracts. One could go into detail about calls and puts, spreads, hedging, speculative strategies, straddles, etc. But for the explanation to be complete one needs to know what options are being mentioned, Equity Options or Index Options, Foreign Currency options or Interest Rate options. The basis for the analysis needs to start with a sound understanding of the structure to which it is being built upon. That is why Marx details Commodities as the starting point. |
| The analysis of the labor process and the analysis of value both have the common variable of the commodity. The labor process is utilized because of, and for, commodities. Commodities are the raw materials that labor uses to create a finished product (which is also a commodity). The analysis of value is derived from the value of the commodity that is being used as a form of exchange. This is something that changes in value but ultimately the commodity determines the value. Thus, to understand the basics of Marx's writing we need to know what a commodity is. |
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