Skip to main content Accessibility help
×
Hostname: page-component-7479d7b7d-q6k6v Total loading time: 0 Render date: 2024-07-13T02:49:30.533Z Has data issue: false hasContentIssue false

7 - Coping With Money's Monopoly on Value

Published online by Cambridge University Press:  23 January 2024

Hannes Gerhardt
Affiliation:
University of West Georgia
Get access

Summary

In considering the interconnected realms of the digital and material commons/commoning in prior chapters, one clear underlying theme has been the continuous tension between compeerist-aligned forms of economic activity and a still dominant capitalist mode of production. Recall that a mode of production consists of the self-reinforcing economic and social arrangements that determine how the production and consumption of goods and services takes place. These assemblages/apparatuses, in turn, are agglomerations of animate and inanimate forces, meaning that we are not only dealing with the materialities of physical and social (re)production, but also with the realm of affect, state of mind, and mental frameworks.

Some mental frameworks are so ingrained and pervasive that they are barely acknowledged. We can call these hegemonic, as their taken-for-granted validity have become foundational in the scaffolding of our entire worldview, keeping us locked into a particular mode of thinking and operation. There is an apt story that captures this inability to see past our taken for granted way of perceiving the world. It goes something like this: two fish swimming in the river encounter an older fish swimming towards them. The older fish asks, “How's the water?” The two fish swim on until one finally turns to the other and says, “What the hell is water?”

One immensely important hegemonic frame through which we see the world is our currently dominant conceptualization of value, which is well captured in the words of the ancient Latin thinker Publilius Syrus who is credited with saying, ‘everything is worth what its purchaser will pay for it’. It is a view that has become so firmly entrenched under capitalism that it is embraced as dogma by economists and as ‘common sense’ by everyone else. It has become the water that we swim in. Here the obfuscated working of the market – the invisible hand – is unconsciously accepted as a kind of omnipotent God, or supercomputer, ‘cranking out the current value of everything in the form of price’ (Gerhardt, 2020). It is a world described by the concept of commodity fetishism, in which we cannot help but see the world through an exchange-value lens. Any thought of intrinsic or derived value in natural or humanly crafted things never comes to mind.

Yet, this sterile market approach to value is actually quite recent.

Type
Chapter
Information
From Capital to Commons
Exploring the Promise of a World beyond Capitalism
, pp. 137 - 154
Publisher: Bristol University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×