Death of Exchange Value

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Discussion

One of the key topics related to peer production, is that it is created for its use value. Any marketisation of the 'openly accessible production' can only derivative, which creates a serious problem for capitalism, which is traditionnally based on production for exchange value. This 'collapse of exchange value' under conditions of abundance, was presciently described by Marx in his Fragment on the Machines. The death of exchange value, as anticipated by Marx in his Grundrisse:

"Fragment on Machines" from his economic notebooks on 1857-58 (aka the Grundrisse):

...In the degree in which large-scale industry develops, the creation of real wealth becomes less dependent upon labor time and the quantity of labor employed than upon the power of the agents set in motion during labor time. And their power ... in turn bears no relation to the immediate labor time which their production costs, but depends, rather, upon the general level of development of science and the progress of technology, or on the application of science to production. ... Labor no longer appears so much as included in the production process, but rather man relates himself to that process as its overseer and regulator ... The theft of alien labor time, which is the basis of present wealth, appears to be a miserable foundation compared to this newly developed one, the foundation created by large-scale industry itself. As soon as labour in its immediate form has ceased to be the great source of wealth, labor time ceases and must cease to be its measure and therefore exchange value [must cease to be the measure] of use value. The surplus labour of the masses has ceased to be the condition for the development of the general powers of the human mind. As a result, production based upon exchange value collapses. [emphasis in the original] (Marx, 1987: 90-91) (cited by Jim Davis in http://www.gocatgo.com/texts/eov.html )