Jim.+259-279

Grundrisse, Capital, pp 259 - 279, March 15, 2011

M - C: commodity loses exchange value in favor of use value C - M: commodity loses use value in favor of exchange value

260: “Only with capital is exchange value posited as exchange value in such a way that it preserves itself in circulation...”

261: “The immortality which money strove to achieve... is achieved by capital, which preserves itself precisely by abandoning itself to circulation.”

“preserving itself in circulation”

money and commodity are two moments of capital

In simple exchange, if money is used as medium to facilitate the exchange of two commodities that are then consumed, the money is residue afterwards, reverts to it’s material substance, but ceases to be exchange value.

264: another version of the outline of the work

“Dissolution of the mode of production and form of society based on exchange value. Real positing of individual labor as social and vice versa.” /post-Capitalist society

use value of labor as potential /talking about “labor-power” without naming it

265: “Society does not consist of individuals, but expresses the sum of interrelations, the relations within which these individuals stand.”

267: footnote: “is not value to be conceived as the unity of use value and exchange value?”

Initially capital is exchange value and labor is use value; in circulation commodities take both roles

270: “The only utility whatsoever which an object can have for capital can be to preserve or increase it.”

capital - commodities as objectified labor, all commodities

/value = a measure of capital?

objectified labor = past labor present labor as potential in the worker

horse piss, crappy shit

productive and unproductive labor (labor as a service, for consumption, and labor that increases capital)

exchange between capital and labor: worker sells his “labor” for a specific sum of exchange value (as money). Capitalist “obtains the productive force which maintains and multiplies capital... the reproductive force of capital, a force belonging to capital itself (274).”

In simple circulation, the objective is consumption

when the worker sells his “labor”, that is simple exchange/circulation; but when the capitalist buys “labor” it is something different.

capital creates modern landed property, modern agriculture

relationship between rent-capital-wage labor traditional land owner becomes modern land owner industrial capital requires the modernization of agriculture / US slavery

double transition to wage labor: in ag itself, in society

“negation”