Patrick Murray

Disenchantment with liberalism and Marxism figures strongly in recent social commentaries like Habits of the Heart. This collection of seven contest entries, ably edited and introduced by William Maker, engages Hegel in these current debates. Hegel's regard for and uneasiness with the free-wheeling marketplace are timely. Raymond Plant notes that reading political economists like Steuart aged Hegel's early captivation with Greek culture to a respect for the principle of particularity, embodied in Christianity, Enlightenment, and modern commerce. Freedom lacks content without the billowing of subjectivity in civil society. But does civil society possess the resources to mitigate the split between private and public, profit and patriotism? Can Hegel's deeply contextual approach--situating commodity exchange within ethical life between family and state--provide an alternative to laissez-faire, Marxism, and the welfare state?

Marx launched a revolution in social thought that has been largely ignored. We locate this revolution in the context of two major reassessments of modern philosophy, Heidegger’s Being and Time and Donald Davidson’s new anti-subjectivism. We argue that the philosophical significance of Marx’s critique of the capitalist mode of production—his critique of the bourgeois horizon—has been overlooked. The paper exposes the bourgeois mindset that runs through political economy, “traditional” Marxism, and much of modern and postmodern philosophy. Bourgeois thinking is marked by a series of “purist splits,” conceptual distinctions that are mishandled as actual separations: conceptual vs. empirical, conceptual scheme vs. thing in itself, individual vs. society, production vs. distribution, preference vs. the preferred object, and subjective vs. objective. Marx shows how capitalist social forms that produce the notion of “value added” inculcate the purist, bifurcating bourgeois horizon.

In the first part of this two-part article, I argued that, unlike the asocial classical labour theory of value, Marx's labour theory of value is a ‘truly social’ one. In fact, it is a purely social one. Marx's theory of value is nothing but his theory of the social forms distinctive of the capitalist mode of production. Thus, we may speak of those forms as value-forms, the commodity, money, capital, wage-labour, surplus-value and its forms of appearance, and more. The labour that produces value, then, is labour of a peculiar social sort. This thought is entirely foreign to the classical labour theory of value, and, likewise, to Marxist accounts of value theory that mistake it for a radical version of Ricardian value theory. The gulf between the classical and the Marxian labour theories of value is wide.