My brief paper does not aim to respond directly to Prof. Yamada’s presentation. The paper, however, criticizes Franco-Italian “Cognitive Capitalism”, which is sharing a strange conception of ‘(Post-) Fordism’ with French Régulation School, that at last has come up with the denial of Marxian Wertsubstanz (Cf. Orléan, André, L’empire de la valeur. Refonder l’économie, Paris, Seuil, 2011).
Simulteneously, my paper criticizes a tendency which has ignored Marxian concept of das fiktiv Kapital, e.g. moneyed (monied) Capital posed in Marx’s 1863-65 Manuskripte titled ‘Das zinstragende Kapital’, and which has stressed ‘Knowledge- Cognition-Linguistic’ bias.
Focusing on my paper, the essential points against “Cognitive Capitalism” are as follows: ①The authors of “Cognitive Capitalism” arbitrarily pick up parts of Marx’s descriptions in Gruntrisse, Resultate des unmittelbaren Produktionsprocesses and Das Kapital Band I (Engels’s edition). Then their ‘theory’ is an embarassing, awkward, and chimerical ‘patch’ swelled out of ‘Marx-like terms’. ②Their claim of the ‘dialectical pair’, e.g., ‘material Labor – immaterial labor’, is never dialectical because the ‘pair’ can not really be posed.
The authors of “Cognitive Capitalism”, as well as the theorocrats of the “Régulation” school, believe in the mana-geability (or, regulability) of European financialized market (not the global one). Their belief, however, can not be realized under the domination of accelerating global movements of Fictitious Capital. The reason is: today’s dominant situation of market is nothing other than a series of financial trading events within nano-seconds, and tends to sweep human interactions, using machine trading and the High Frequency Trading - computational program. In other words, the idea of human-centralized manageability (or regulability) of market is a mere daydream, and we will never manage, regulate, or control the runaway market, other than try and explore an entirely new alternative to abolish Global Capitalism.
Reaching 150th anniversary of the first edition of Das Kapital (Band I), we need carefully, minutely but daringly discuss the contemporary phase of Capital and Market.
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