By Gordon Hull
Over at Larval Subjects, Levi Bryant has a nice post on how Marx’s distinction between C-M-C and M-C-M’ helps to explain an otherwise puzzling ideological construction. Marx’s distinction, arrived at in chapter 4 of Capital, is about how commodities circulate. In the C-M-C formula, we consider someone who starts with a commodity, sells it, and uses the proceeds to buy another one. For example, I start with a shirt, sell it, and use the money to buy some bread. In this formula, a couple of things become apparent: use value is both the beginning and end of the process insofar as the individual offers up something she doesn’t have a use for (or has less of a use for), and essentially trades it for something she has a greater use for. In contemporary economic-speak, the market is efficiently helping individuals satisfy their preferences, by moving goods to whoever values them the most. This is the perspective of the worker, who sells his labor for money.
The M-C-M’ relation is one that the capitalist uses. Here, the capitalist has money, sells it to get a commodity, and then sells the commodity for more money than he paid for it. As a result, he has more money at the end of the day than before. Marx emphasizes the M-C-M’ relation because it helps to get him to labor as the source of value: whatever commodity occupies the middle place in the M-C-M’ relation has to be one the use of which increases its value. The answer, of course, is labor.
