Marx and the Crisis

Andrea Micocci

International Journal of Political Economy, 2011, vol. 40, issue 3, 72-87

Abstract: Capitalism's dialectical functioning constitutes a metaphysics, with monetary denomination taking economic and political primacy and ensuring the value-price transformation as a continuous yet inaccurate iteration. Monetary denomination thus grants both political stability and the possibility of valorization. Financial deals are inevitably far more rewarding than material production, but the two are metaphysically linked. While the former might damage the latter in times of "crisis," they cannot do without each other due to capitalism's dialectical operation. Crises are the norm in a capitalist system. Only by going beyond dialectics and the entailed metaphysics can we change this, in theory and in practice.

Date: 2011
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DOI: 10.2753/IJP0891-1916400306

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