{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","uuid":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","normalized_title":"digitalcapitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","isbns":["2021022153","9781032119182","9781032119205","9781003222149","2405518376"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":343,"navigation_url":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title_url":"https://workshop.closeclaw.top/ai/title/Digital%20Capitalism","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","page_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page","search_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/search"},"page":{"printed_page":278,"pdf_page":292,"physical_index":292,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"b1d11247dcf4f0773b557d2513a965ab2eb33a14fb7ab451f770aa146d3940e1"},"chapter":"DIGITAL CAPITALISM","content":"In a newer version of his argument, Garnham argues that the labour theory of value\n\nserved a useful analytical function and within the relatively simple material economies of the day bore some relevant relationship to relative prices and the division of the surplus and thus to class relations. […] In an economy based upon a complex division of labour, on a growing ratio of dead labour to living labour and on the application of knowledge, it made, and makes, less and less sense. (Garnham 2016, 295–296; for a response see Fuchs 2016a)\n\nGarnham argues that Piero Sraffa (1960) in his book Production of Commodities by Means of Commodities has shown that “the inequalities of capitalism can be generated within the process of commodity production and exchange without recourse to an exploitation theory of labour” (Garnham 2016, 297; for a critique see Fuchs 2016a).\n\nOne should bear in mind that Cantabrigian economics (Pierro Sraffa, Joan Robins, John Eatwell, and others) has resulted in Marxist critique. In this approach, “people as human beings – and, more importantly, as historical social classes – are given no role in the process of production” (Roosevelt 1975, 7). The Cantabrigians separate “relations between things from relations between people” (Roosevelt 1975, 19), which results in a commodity-fetishistic model of capitalism, in which “things produce things” (p. 19). “However ingenious the Cantabrigians are in analyzing price phenomena, they never connect such phenomena with social relations in the way that Marx did in Capital” (p. 20). Sraffa and Robinson’s approaches constitute a “[p]rice theory without value theory” (p. 19). Robinson (1966, 22) revises Marx theory and argues that “no point of substance in Marx’s argument depends upon the labour theory of value”. For Marx, distribution and production are intertwined social processes, for the Cantabrigians they are separate, production being technical in nature and distribution social. For Sraffa (1960, 9), surplus is not surplus-value, but a physical “surplus production” of commodities, “a surplus of some commodities” (p. 26). In contrast, for Marx surplus is surplus-value that stems from capital’s exploitation of labour in class relations.\n\nFor Marx, there is a social production process, in which humans enter social relations of production and these social relations use means of production for creating new goods that are distributed in relations of distribution (Fuchs 2016b). Production and distribution are interrelated social processes grounded in human activity. For Marx, human creativity and activity sustain any economy. Capitalism is a mode of production that is based on the general production of commodities that reflects socially necessary labour-time, that is an average quanta of human labour that is exploited by capital. Production is a social process, in which humans work together in order to produce a good or service. In capitalism, this involves a division of labour. In addition, in complex economies there are multiple organisational units of production creating similar types of goods and services. In capitalism, this involves a social process of competition for productivity levels, price advantages, markets, customers, and profits. Marx’s labour theory of value is a theory of time in capitalism (Fuchs 2016b; Fuchs 2015, chapter 4). It distinguishes between necessary labour-time and surplus labour-time. The first constitutes the value of labour-power and the value of the necessary means of production. The second is surplus-value that is unremunerated labour-time. Parts of the working day are not paid, which results in monetary profit and a surplus product owned by the capitalist class. Capitalism means a struggle focused on paid and unpaid labour-time. The working class has the interest that all of its time is remunerated, whereas the capitalist class has the interest that no labour-time is paid at all. The class struggles oscillates depending on the power of the involved forces somewhere between the poles of maximum wage and maximum profit that corresponds to the two extremes of the payment of all labour-time on the one end and the payment of no labour-time at all on the other end.\n\n278\n\nThemes","previous_page":277,"next_page":279}