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• W316769296 abstract "This article maintains that the intelligibility of Marx's project in Capital resides in its apprehension as an economic theory. The ontological predicate for Marx's project as such is the historically unique tendency for capital to reify human economic life. Marx famously captured this tendency with his notion of capital converting concrete interpersonal material relations into abstract impersonal relations among things. It is capitalist reification which provides the epistemological warrant for the dialectical architecture of Capital as economic theory par excellence (1). Moishe Postone (1996: 75) puts it this way: 'Marx ... characterises capital as the self-moving substance which is Subject ... [Its] social relations ... are of a very peculiar sort--they possess the attributes that Hegel accorded to the Geist'. Simply put, what the concept of reification captures is the fact that while capital is a socially and historically constituted object, it 'turns the table' if you will on human subjects to objectify them as capital wields human society for the abstract purpose of value augmentation. The dialectic, then, is a special-purpose or content specific method demanding a theoretical object with unique ontological properties for its operation. That is, the theoretical object must be 'self-moving' and 'self-reifying' (Kourkoulakos, 2003: 191-4). In the material world, only one such theoretical object exists--capital. Marx, unfortunately, passed away before the three volumes of Capital were completed. And, while volume one went to the printer in his lifetime, this is something Marx bemoaned. In his own words (Marx, [1865] 2012): I cannot bring myself to send anything off until I have the whole thing in front of me. Whatever shortcomings they may have, the advantage of my writings is that they are an artistic whole, and this can only be achieved through my practice of never having things printed until I have them in front of me in their entirety. This is impossible with Jacob Grimm's method which is in general better with writings that have no dialectical structure. As discussed elsewhere (Westra, 2011), the well-known elaborations upon the three volumes of Capital as Marx left them focus largely upon clarifying what Marx himself wrote rather than attempting to complete the project in its dialectical 'entirety'. To review the literature on such elaborations upon Capital would significantly outstrip the bounds of this article. This point applies as well to the mountain of writings on this or that concept of Capital the adequate understanding of which cannot be gained through treatment that abstracts from their place in Capital taken in its dialectical entirety as Marx puts it. However, the only works I am aware of which attempt to complete the three volume project of Capital are that of Japanese economists Kozo Uno (available only in Japanese; though an abridged English translation of Uno's magnum opus was published in 1980) and his student, Thomas Sekine (1986; 1997). And recently, John R. Bell (2009) provides a valuable single volume excursus on Sekine's approach to Marx (Sekine's early extended two volume dialectic of capital was published in English by a Japanese press and made available to a limited group of scholars; it is that which Bell synthesises). The purpose of this article is thus to present to readers an outline of how Capital is reconstructed and completed as a dialectical theory from the perspective of Uno and Sekine; though with emphasis placed upon those areas of Capital I view as most desperately in need of elaboration. Completing the economic theory of capital to capture the inner working of the capitalist commodity economy demands that at points where the dialectic steers us in directions which diverge from the letter of what Marx left in his unfinished project, we should 'listen to capital' and follow its self-reifying dialectical logic. …" @default.
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• W316769296 date "2012-06-22" @default.
• W316769296 modified "2023-09-26" @default.
• W316769296 title "Capital as dialectical economic theory" @default.
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