Marxism21

From Anatomy of Capitalism to the Future of Capitalism:

Kim Young-yong, The Inquiry into the Value of Labor(Chaam

Publishers, 2022)

Hyeon-Hyo, Ahn

“The Inquiry into the Value of Labor” is praised for achieving its modest goal

of introducing and interpreting Volume 1, Part 1, “Commodities and Money,” of

“Capital,” while simultaneously making a bold attempt to prove Marx’s labor

theory of value within the scope of “Capital,” Volume 1, Part 1.

Firstly, in “The Inquiry into the Value of Labor,” the multi-dimensional

aspect of understanding Marx’s concept of value is addressed, approaching the

dimensions of substance, form, and magnitude. The interpretation of value form

is explored as the “manifestation” of value, and the approach is framed within

the context of the market’s approval of value and its dialectical interrelation.

This paper pays attention to this clue and reinterprets it as a mean to overcome

both circulationist and labor expending approach of Marx’s theory of value,

thus finally attaining the of the commodity form theory.

Secondly, however, while the subject of research and description in “The

Inquiry into the Value of Labor” is Volume 1, Part 1 of “Capital,” the question

arises whether the subject of Volume 1, Part 1 of “Capital” is the capitalist mode

of production or a simple commodity-producing society. “The Inquiry into the

Value of Labor” chooses the latter perspective, aiming to clarify all issues related

to the quantitative distribution of labor value interpreting the Volume 1, Part 1

of “Capital.” This, however, could be criticized for its limitation in addressing

the quantitative distribution issues of labor in different sectors.

Thirdly, the fetishism of commodities serves as evidence for the substitution of

relationships between things for between peoples. The analysis and explanation

of this point contribute to a better understanding of capitalist fetishism.

Although analyzed within the constraints of a simple commodity-producing society, the research and description in “The Inquiry into the Value of Labor”

are highly regarded as providing valuable insights into imagining and exploring

the society that comes after “the society we live in.”

In conclusion, despite its narrow focusing on a simple commodity-producing

society, “The Inquiry into the Value of Labor” are seen as a crucial starting point

for imagining and investigating the society that follows “the society we live in.”

Key words: Labor, Value, Fetishism, Commodity-producing Society,