2. Capitalist Value
• Nature of Capitalist System of Valuation based in the
difference between “use value” and “exchange value”
• Exchange requires equivalence between objects valued.
5. Exchange & Equivalence in
Language
• A coin’s value is “determined not merely by the concept or
meaning of which it is a token. It must be assessed
against comparable values, by contrast with other
words.” (Saussure, Course in General Linguistics 113-
114)
6. Exchange & Equivalence in
Language
• A coin’s value is “determined not merely by the concept or
meaning of which it is a token. It must be assessed
against comparable values, by contrast with other
words.” (Saussure, Course in General Linguistics 113-
114)
Hinweis der Redaktion
"Commodities, which exist as use-values, must first of all assume a form in which they appear to one another nominally as exchange-values, as definite quantities of materialised universal labour-time. The first necessary move in this process is, as we have seen, that the commodities set apart a specific commodity, say, gold, which becomes the direct reification of universal labour-time or the universal equivalent." [3]
Value-meaning is determined externally not by essential reference to concept.