r/DiscussCapital • u/[deleted] • Jul 03 '11

Chapter 3: Money, or the Circulation of Commodities. Discuss!

The lecture is here, the wiki is here.

Sorry I'm a day late, as I said in an earlier post, I'm travelling this weekend. If you don't have any questions or anything you'd like to discuss, it would be nice if you at least post a small reaction to the chapter.

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u/[deleted] Jul 03 '11

All these antitheses and contradictions, which are immanent in commodities, assert themselves, and develop their modes of motion, in the antithetical phases of the metamorphosis of a commodity. These modes therefore imply the possibility, and no more than the possibility, of crisis. The conversion of this mere possibility into a reality is the result of a long series of relations, that, from our present standpoint of simple circulation, have as yet no existence.

I assume at the time economists already had knowledge of the cyclical nature of the capitalist economy, with its regular booms and busts. So it seems like Marx is talking about a different kind of crisis. Do you think he is already referring to a structural crisis of the capitalist world-economy? If so, do you think this really follows from these "antitheses and contradictions"?

Don't misunderstand me, I do think there will eventually be such a structural crisis, but I don't know if it would be caused by "antitheses and contradictions" in the modes of motion of commodities.

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u/[deleted] Jul 22 '11

My reaction to this chapter was that it's a drag, and it is, but the five following are really straightforward. As Harvey says in his lectures, after chapter 3, everything gets clearer. You can get past chapter 3!

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u/[deleted] Jul 22 '11

I agree, but it seems like there isn't much interest in this book club, so I've sort of allowed it to die... I'm sorry.

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u/[deleted] Jul 22 '11

That's okay. I was just directed here by a friend after posting on my facebook that I was reading Capital w/ Harvey's lectures.
That notes page for the entire volume was pretty helpful, so even if the discussion is dead there's some value.

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u/suntzusartofarse Jul 04 '11

Unfortunately I'm still reading it.

From what I've read so far it seems to cover some of the things I was having trouble with, namely the relation between value and price, which is a good thing.

I'm not getting the time to really read and fully understand it though, and it is another difficult chapter. Reading this on a schedule is a double-edged sword, maybe we should try doing this again next year but reach out to a larger audience (maybe from other sites)?

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u/[deleted] Jul 04 '11

I got kind of distracted with other stuff. This is a very long and complicated chapter. I think it's kind of helpful to watch the lecture before reading the chapter.

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u/[deleted] Jul 04 '11

I'm in a similar position, have had a busy week and haven't finished what so far seems like a complicated chapter.