Saturday, June 16, 2018

Capital and Will to Power

A contemporary Economy is generally conceived to be a concatenation of exchanges.  An exchange consists in two expendings and two acquisitions. The constituents of an exchange include money, commodities, and labor, a common special case of which is an exchange in which one constituent is money.  Capital can be defined as anything expended in an exchange.  Anything expended in an exchange has purchase power.  Thus, Capital can be defined as anything with purchase power.  Now, it is generally posited that the aim of each party in an exchange is to maximize gain, i. e. to expend as little as possible and to acquire as much as possible, with the actual exchange the arriving at an equilibrium between the two, usually conflicting, aims.  And, theories of Value attempt to impute predictable regularity to the arrival at an equilibrium in an exchange.  However, these theories have rarely taken into account that purchase power has been best explained by Nietzsche's Will to Power, i. e. the seeking to discharge strength.  They thus fail to take into account that a fundamental Value of Capital consists simply in its functioning as Capital, i. e. as being expended, a Value that, at minimum, modifies their calculations, e. g. is a factor in the purchase of something with Use-Value to the purchaser, and, perhaps, uniquely explains some exchanges, e. g. those of recreational shopping.  The failure is due to their focus on exchanges involving money, the other constituent of which is the bearer of Value, i. e. their theories of Value are of that of objects that are bought/sold.  Accordingly, the value of the act of expending is irrelevant to their theories.  So, there is a systematic relation between Capital and Will to Power, independent of objects of purchase, that has rarely been examined.

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