Just what is it that makes Marx's contribution so different, so appealing?
Marx revealed the dark secret of classical political economy: that the writers in that tradition assumed the ubiquity of a distinctive economic sphere that was, in fact, unique to and characteristic of capital. To them capitalism was eternal and earlier forms of society were simply incomplete in their striving toward the absolute. By breaking with that tradition, Marx was able to more completely grasp the dynamic of capital accumulation and crisis.
Marx had a theory of crisis and of the dynamics of capital accumulation already in the late 1840s but his mature theory hinges on the distinction between labour and labour power or capacity that he didn't develop until the next decade. When his "Wage Labour and Capital" was republished by Friedrich Engels in 1891, Engels "updated" it by altering Marx's references to the sale of labour to conform with his later distinction of labour power. But Marx's 1847 critique was not the same as his mature critique of political economy, which only fully materialized in his Grundrisse notebooks.
Here's where Sandwichman's focus on The Source and Remedy comes into play. My contention is that Marx's 1857 understanding of labour capacity and surplus value owes a good deal to Dilke's discussion from 1821, with one crucial distinction that Marx outlined in his 1862-63 notebooks, published posthumously as Theories of Surplus Value:
Our pamphleteer [Dilke] overlooks two things:
As a result of the introduction of machinery, a mass of workers is constantly being thrown out of employment, a section of the population is thus made redundant; the surplus product therefore finds fresh labour for which it can be exchanged without any increase in population and without any need to extend the absolute working-time.
Two things: 1. machinery creates a redundant population of workers; 2. this surplus population supplies the labour power for new investments of capital. Machinery thus creates "new" labour power by throwing people out of work. Voila!
In the Grundrisse, Marx presented this same argument in more detail on pages 398-99 (Penguin edition) after having prefaced it with a composite quote from The Source and Remedy on page 397.
Just as capital on one side creates surplus labour, surplus labour is at the same time equally the presupposition of the existence of capital. The whole development of wealth rests on the creation of disposable time. The relation of necessary labour time to the superfluous (such it is, initially, from the standpoint of necessary labour) changes with the different stages in the development of the productive forces. In the less productive stages of exchange, people exchange nothing more than their superfluous labour time; this is the measure of their exchange, which therefore extends only to superfluous products. In production resting on capital, the existence of necessary labour time is conditional on the creation of superfluous labour time. …
…
It is a law of capital, as we saw, to create surplus labour, disposable time; it can do this only by setting necessary labour in motion - i.e. entering into exchange with the worker. It is its tendency, therefore, to create as much labour as possible; just as it is equally its tendency to reduce necessary labour to a minimum. It is therefore equally a tendency of capital to increase the labouring population, as well as constantly to posit a part of it as surplus population - population which is useless until such time as capital can utilize it. (Hence the correctness of the theory of surplus population and surplus capital.) It is equally a tendency of capital to make human labour (relatively) superfluous, so as to drive it, as human labour, towards infinity. Value is nothing but objectified labour, and surplus value (realization of capital) is only the excess above that part of objectified labour which is necessary for the reproduction of labouring capacity. But labour as such is and remains the presupposition, and surplus labour exists only in relation with the necessary, hence only in so far as the latter exists. Capital must therefore constantly posit necessary labour in order to posit surplus labour; it has to multiply it (namely the simultaneous working days) in order to multiply the surplus; but at the same time it must suspend them as necessary, in order to posit them as surplus labour.
The path characteristically described by modern industry, which takes the form of a decennial cycle (interrupted by smaller oscillations) of periods of average activity, production at high pressure, crisis, and stagnation, depends on the constant formation, the greater or less absorption, and the re-formation of the industrial reserve army or surplus population. In their turn, the varying phases of the industrial cycle recruit the surplus population, and become one of the most energetic agencies for its reproduction.
A funny thing happened to "disposable time" on the way from Grundrisse to Capital -- it became, sarcastically, the rightful property of the capitalist:
If the worker consumes his disposable time for himself, he robs the capitalist.
...
Hence it is self-evident that the worker is nothing other than labour-power for the duration of his whole life, and that therefore all his disposable time is by nature and by right labour-time, to be devoted to the self-valorization of capital.
...just as a surplus population also "belongs to capital" in the form of a disposable industrial reserve:
But a surplus population of workers is a necessary product of accumulation or of the development of wealth on a capitalist basis, this surplus population also becomes, conversely, the lever of capitalist accumulation, indeed it becomes a condition for the existence of the capitalist mode of production. It forms a disposable industrial reserve army, which belongs to capital just as absolutely as if the latter had bred it at its own cost.
And guess what. This is pretty much what Uno Kōzō argued was Marx's theory in The Theory of Crisis! Recall that I left off the previous post with the following paragraph:
This is true, for example, of "socially necessary labour time," which incorporates within itself the inversion of the necessary and the superfluous, so that "socially necessary" is at once both "necessary" and "superfluous." That is to say it expresses the essential contradiction of the concept.
Necessary and superfluous? One might as well say indispensable and disposable as Gavin Walker and Ken Kawashima termed it in their essay "Surplus Alongside Excess: Uno Kōzō, Imperialism, and the Theory of Crisis" reproduced (with the order of the authors revresed) as a supplementary essay, "Uno Kōzō’s Theory of Crisis Today" in Kawashima's translation of The Theory of Crisis. I have copied that section below:
Labor-power as the “Indispensably Disposable” Commodity
One of the most important problems that characterizes and distinguishes Uno’s theory of crisis from the broad field of texts in the history of Marxist theory devoted to the issue of crisis, is his insistence on the meaning and complexity behind the phrase “the commodification of labor-power.” For Uno, this phrase is the key to the entirety of Marx’s work, but also the pivotal element in a capitalist commodity economy itself. Around this phrase an entire series of problems and relations are concentrated: the logic of capital and history of capitalist development, the origin of capital and its repetition, the inside and outside of capital as a social relation, and the peculiar dynamics by which these instances are inverted into each other. But Uno also adds to this phrase a singularly complex concept, one that is deceptive in its apparent simplicity. This is what Uno referred to as the muri, the (im)possibility, the impasse, the excess, the irrationality, the absence of reason, the forced nature of the commodification of labor-power.
In this peculiar turn of phrase, Uno specifies that capitalist production, which attempts to form a pure circle of inputs and outputs, always contains this muri as something that is “passing through” the entire circuit. But this muri is also an exceptionally polyvalent term: the commodification of labor-power is also treated by Uno as itself the particularly (im)possible phenomenon of capitalism, because as Nagahara Yutaka and others have suggested, capital requires certain degrees of force or forcing in order to undertake the “indirect” production of this thing that marks capital’s fundamental Achilles’ Heel and allows it to compensate for it. Therefore, we should immediately note something important – this muri identified by Uno in no way suggests that somehow capitalism is grounded in something “truly impossible” or that it secretly “doesn’t work.” It means, in fact, the exact opposite. Capital works because of the dynamism and tension that exists in this peculiar space, wherein labor-power cannot be directly produced (a barrier that should be absolute) and yet this Achilles’ Heel tends to be overcome by means of the form of population.
We have attempted on a number of other occasions to develop this concept of muri, a term that indicates a deep and complex field of problems. For the time being we will simply note that this term points toward crucial linkages between the theory of crisis and the general broad concerns of Marxist theory. It indicates, for instance, the (im)possible closure of Marx’s theoretical exposition of the logic of capitalist accumulation, signifying the possibility and impossibility to assume the closure of the logical circle that capitalist reproduction represents; it reveals the necessary historical contamination of the logic, a structure in which capital must foreclose itself as a sphere of rationality, only paradoxically, on the basis of a “nihil of reason” on – and through – which the fundamental principles of capitalist commodity economy rest and cannot but dwell.
Further, when we think of labor-power as a commodity in relation to the cyclical nature of capitalist crisis, we are presented with its double and contradictory nature. In the phase of prosperity, labor-power is the most indispensable commodity, for no other commodity can produce new values within capitalist production. Yet, once this indispensable commodity is consumed in the course of capital’s circuit-process, capitalist production is already on the way towards an outbreak of crisis at the zenith of prosperity, which is also to say that once labor-power is consumed in production as the most indispensable commodity, capitalist prosperity is already moving in the direction of capitalist recession, during which labor-power now transforms into the opposite phenomenon, namely into the most disposable commodity in the phase of recession. This is why labor-power appears as the contradictory embodiment of being indispensably disposable. What Uno calls the muri is a formulation that expresses the conceptual dynamics of how labor-power could exist as both indispensable and disposable in the same space and time.
Ken Kawashima gives an introduction to Uno's theory in the following video: o
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