[OPE-L] [roywestjp@yahoo.co.jp: New Book on Marx's Labor Theory of Value]

From: Hans G. Ehrbar (ehrbar@LISTS.ECON.UTAH.EDU)
Date: Sat Apr 16 2005 - 01:54:18 EDT

Hello, I received this announcement because the editor and
translator used the translation in my Annotations, but I
think it may also be of interest to others.

Hans Ehrbar

- ------- Start of forwarded message -------
Date: Tue, 12 Apr 2005 17:55:19 +0900 (JST)
From: Roy West <roywestjp@yahoo.co.jp>
Subject: New Book on Marx's Labor Theory of Value

In March of this year a book entitled Marx's Labor Theory
of Value: A Defense, by Japanese Marxist Hayashi Hiroyoshi,
was published by iUniverse, Inc. As the translator and
editor, I am writing to individuals and organizations
throughout the world who have an interest in Marx to draw
their attention to this book's existence.

The book is divided into six chapters, each addressing a
different theoretical issue. The core of the book is the
first chapter, which introduces Marx's labor theory of
value by means of closely examining the first three chapters
(part one) of Capital and also critically examining the
ideas of those who have rejected Marx's theory (such as
Bohm-Bawkerk and the Japanese "Marxist" Uno Kozo.) This
first chapter emphasizes the particular theoretical task
that Marx sets himself in each of the four sections of the
first chapter and in chapters two and three. In addition to
this discussion of part one of Capital, chapter one also
introduces Marx's theory of "exploitation" and discusses
how things that are not the product of labor and have no
inherent value can also assume the "commodity form"

Chapter two introduces Adam Smith's theory of value, which
is a mixture of various "moments" of value theories,
including Marx's labor theory of value as well as
subjective theories of value and the tautological view of
value as being composed of wages, profit and rent.

Chapter three introduces Marx's theory of credit presented
in the third volume of Capital. This chapter, which is
premised on the understanding of the concepts of value and
the commodity introduced in chapter one, looks at the role
of credit within capitalist production and elucidates the
peculiar phenomenon of money (as capital) becoming a

Chapter four takes a look at Marx's theory of ground-rent,
also discussed in volume three of Capital. Hayashi looks at
the distinction and relation between differential rent,
absolute rent, and pure monopoly rent. Like the chapter on
credit, this chapter is premised on an understanding of how
surplus-value arises through the production process,
presented in chapter one of Marx's Labor Theory of Value,
(as well on more concrete, complex concepts such as
production price and the formation of average profit).

The final two chapters look at the concept of productive
labor. Chapter five discusses, in great detail, the
"original definition" of productive labor, which
penetrates all forms of society, and the "formal" or
"historical" concept of productive labor under
capitalism. Rather than simply juxtaposing the two
definitions, however, Hayashi elucidates the essential
relation between them. The final chapter, building on this
understanding of the distinction between productive and
unproductive labor, critically examines the views of
self-proclaimed Marxists in Japan who have attempted to blur
this distinction and even argue that "service labor" is
somehow productive.

In addition to these six chapters, I have written a lengthy
introduction that focuses on the role Hayashi has played as
a revolutionary socialist in Japan, beginning with his
participation in the 1960 "anti-Anpo" movement as a
university student. I also try to highlight the connection
between Hayashi's theoretical efforts -- particularly his
insistence on Marx's labor theory of value -- and the
direction of the socialist movement he has been involved in.

If you would like to get a better idea of the content of
Marx's Labor Theory of Value, it can be browsed on-line at
the iUniverse.com site:


The book can be ordered from iUniverse, and is also
available from www.amazon.com and www.barnesandnoble.com

(Please note that my name, Roy West, has been incorrectly
listed as the author on these websites.)

Please feel free to visit the website of the Marxist
Comrades Group (www.mcg-j.org) to read various articles and
essays by Hayashi and others that I have translated,
regarding Marx's thought, socialism, and other topics.

Thank you for taking the time to read this and please
contact me if you have any questions regarding Marx's Labor
Theory of Value.


Roy West
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