Accounting for Value in Marx's Capital: The Invisible Hand (Heterodox Studies in the Critique of Political Economy)

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Accounting for Value in Marx's Capital: The Invisible Hand (Heterodox Studies in the Critique of Political Economy)

Written by Robert Bryer
4.85 82,871 ratings
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About this ebook:
Many scholars discuss Marx's Capital from many perspectives, but Accounting for Value uniquely advances and defends an 'accounting interpretation' of his theory of value, that he used it to explain capitalists' accounts. It confirms and builds on the Temporal Single-System Interpretation's refutation of the charge that Marx's illustration of the 'transformation from values to prices' is inconsistent, and its defense of his 'Law of the Tendential Fall in the Rate of Profit'. It rejects other interpretations by showing that only a 'temporal', 'single-system' interpretation is consistent with Marx's accounting. The book shows that Marx became seriously interested in accounts from the late 1850s during an important period in the development of his critique of political economy, asking Engels for information and explanations. Examining their letters in the context of Marx's evolving work, it argues, supports the hypothesis that discovering he could explain them with his theory of value gave him the breakthrough he needed to decide how to present his work and explains why, in 1862, he decided to change its title to Capital. Marx's explanations of capitalist accounting, it concludes, amount to an 'accounting theory' that explains how individual capitalists and the capital market use what is, for many, the 'invisible hand' of accounting to control the production and distribution of surplus value.Marx claimed his theory of value was a work of 'science', a critique of political economy that would deliver a 'theoretical blow' from which the bourgeoisie would 'never recover'. He failed, critics argue, because his critique depends on hypothetical entities, which we cannot directly observe, such as 'value' and 'abstract labour', 'surplus value', which means his theory is not open to empirical refutation. The book, however, argues that he used his theory of value to explain the 'phenomenal forms' of 'profit', 'rate of profit', etc., by explaining the observable accounting principles and practices capitalists use to calculate and control them, in which, as he said, we can 'glimpse' the determination of value by socially necessary labor time, which experience could have refuted.--Christine Cooper, Strathclyde University

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Pages 333
Language Eng
Published N/A
ISBN 35198539
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Robert Bryer
About the Author
Robert Bryer

Robert Bryer writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. Robert Bryer lives with their spouse and a very vocal rescue cat.

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Betty Ramirez
Betty Ramirez January 13, 2024
A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
Michael  Parker
Michael Parker October 14, 2025
Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
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Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author.
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Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. Quite impressive overall.
Jennifer Gonzalez
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A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
William Hill
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Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars.
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
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Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars.
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Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
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Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
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Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
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I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
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An acceptable diversion. Certain acts were fascinating, while others felt like a slight endeavor to complete. Suitable if your reading queue is empty.
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Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
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Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars.
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Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
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Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Kevin Scott
Kevin Scott April 11, 2025
Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars.
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Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading.
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Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre.
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Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
George Evans
George Evans November 19, 2025
I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Nicholas Lopez
Nicholas Lopez December 26, 2024
Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
Emily Campbell
Emily Campbell September 26, 2025
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
David Scott
David Scott July 16, 2024
Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre.
Steven Jackson
Steven Jackson April 19, 2024
Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
Michael  Parker
Michael Parker March 13, 2025
A decent, if standard, experience. The prose was competent, yet the characters lacked the depth I usually seek. A fair 3 stars.
Amanda Hall
Amanda Hall December 26, 2025
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
Edward Jackson
Edward Jackson September 26, 2025
I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
Kevin Torres
Kevin Torres July 03, 2025
Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem.
Eric Hill
Eric Hill January 15, 2024
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
Laura Gonzalez
Laura Gonzalez March 17, 2025
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
Nicholas Clark
Nicholas Clark December 30, 2025
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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