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Value or Rent? A Marxist Analysis of Offsetting

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Nature Swapped and Nature Lost
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Abstract

The relationship between capitalism and nature has been extensively investigated by Marxists and ecosocialists (see e.g., Marx and Engels 1970; Marx 1964; Engels 1940; Foster 1999, 2000, 2002; Foster et al. 2011; Burkett 1999; Harvey 1996, 2014; Clark and York 2005; Smith 2010; O’Connor 1998; Huber 2009, 2017; Malm 2016). In direct opposition to the reductionist hegemonic discourse that keeps humans and non-human nature in separation, the starting point for a Marxist approach to nature–society relationships is the key position of labor.

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Notes

  1. 1.

    On surplus value and value we read in Capital (Marx 1887, p. 104): “In the simple circulation of commodities, the two extremes of the circuit have the same economic form. They are both commodities, and commodities of equal value. But they are also use-values differing in their qualities, as, for example, corn and clothes. The exchange of products, of the different materials in which the labor of society is embodied, forms here the basis of the movement. It is otherwise in the circulation M-C-M, which at first sight appears purposeless, because tautological. Both extremes have the same economic form. They are both money, and therefore are not qualitatively different use-values; for money is but the converted form of commodities, in which their particular use-values vanish. To exchange £100 for cotton, and then this same cotton again for £100, is merely a roundabout way of exchanging money for money, the same for the same, and appears to be an operation just as purposeless as it is absurd. One sum of money is distinguishable from another only by its amount. The character and tendency of the process M-C-M is therefore not due to any qualitative difference between its extremes, both being money, but solely to their quantitative difference. More money is withdrawn from circulation at the finish than was thrown into it at the start. The cotton that was bought for £100 is perhaps resold for £100 + £10 or £110. The exact form of this process is therefore M-C-M’, where M’ = M + D M = the original sum advanced, plus an increment. This increment or excess over the original value I call ― surplus value. The value originally advanced, therefore, not only remains intact while in circulation, but adds to itself a surplus value or expands itself. It is this movement that converts it into capital”. Then in page 121 we also read: “The consumption of labor-power is at one and the same time the production of commodities and of surplus value. The consumption of labor-power is completed, as in the case of every other commodity, outside the limits of the market or of the sphere of circulation”. And in page 149: “That portion of the working day, then, during which this reproduction takes place [Marx refers to the reproduction of worker’s labor power], I call ― necessary labor time, and the labor expended during that time I call ― necessary labor […] During the second period of the labor-process, that in which his labor is no longer necessary labor, the workman, it is true, labors, expends labor-power; but his labor, being no longer necessary labor, he creates no value for himself. He creates surplus value that, for the capitalist, has all the charms of a creation out of nothing. This portion of the working day, I name surplus labor-time, and to the labor expended during that time, I give the name of surplus labor”. It is important, therefore, for a meaningful understanding of surplus value, to conceive it as a mere congelation of surplus labor-time, as materialized surplus labor, and, also, for a proper comprehension of value, to conceive it as a mere congelation of hours of labor, as materialized labor.

  2. 2.

    As Harvey (2010a, pp. 18–19) explains in one of the examples he often cites also in his talks and lectures, “when you go to the supermarket you can find out the exchange-values, but you can’t see or measure the human labor embodied in the commodities directly. It is that embodiment of human labor that has a phantom-like presence on the supermarket shelves”.

  3. 3.

    It is important to point out here that this definition of value clearly distinguishes Marx from the physiocrats and the contemporary nature valuation debate (see also Burkett 2006).

  4. 4.

    See also the following excerpt from Capital, Volume 1 (Marx 1887, p. 28): “The value of a commodity would therefore remain constant, if the labor time required for its production also remained constant. But the latter changes with every variation in the productiveness of labor. This productiveness is determined by various circumstances, among others, by the average amount of skill of the workmen, the state of science, and the degree of its practical application, the social organization of production, the extent and capabilities of the means of production, and by physical conditions. […] In general, the greater the productiveness of labor, the less is the labor time required for the production of an article, the less is the amount of labor crystallized in that article, and the less is its value; and vice versâ, the less the productiveness of labor, the greater is the labor time required for the production of an article, and the greater is its value. The value of a commodity, therefore, varies directly as the quantity, and inversely as the productiveness, of the labor incorporated in it”.

  5. 5.

    Second nature, namely both the material creations of human labor and the societal institutions that facilitate and regulate the exchange of commodities, both directly and indirectly, is produced out of first nature and it is the nature produced by human activity, in opposition to the inherited non-human nature (Smith 2010).

  6. 6.

    It is important to note here that Engels has also showed a clear awareness of the unequal distribution of environmental harm in capitalism and of the class character of environmental problems particularly within the city. In The Condition of the Working-Class in England (Engels 1844) he writes in detail about the miserable environmental conditions that workers have been facing in towns, while arguing that “the members of this money aristocracy can take the shortest road through the middle of all the labouring districts to their places of businesses, without ever seeing that they are in the midst of the grimy misery that lurks to the right and the left” (p. 85).

  7. 7.

    See http://content.time.com/time/arts/article/0,8599,1666221,00.html.

  8. 8.

    See https://www.environmentbank.com/register/.

  9. 9.

    See https://www.environment.nsw.gov.au/bimsprapp/biobankingpr.aspx.

  10. 10.

    This website does not seem to operate anymore despite the enthusiasm with which the supporters of the economic valuation of nature had introduced it, for more information see: https://www.ecosystemmarketplace.com/articles/speciesbanking-com-for-all-your-species-needs/.

  11. 11.

    For more information see: https://www.thebiodiversityconsultancy.com/approaches/ifc-ps6/.

  12. 12.

    See http://www.ejolt.org/2013/11/rio-tinto-compensation-manipulation-in-southeast-madagascar/.

  13. 13.

    See https://wrm.org.uy/wp-content/uploads/2016/04/RioTintoBiodivOffsetMadagascar_report_EN_web.pdf.

  14. 14.

    Available at: http://wrm.org.uy/wp-content/uploads/2016/06/Article_Rio_Tinto_in_Madagascar.pdf.

  15. 15.

    See https://ugandabiodiversityfund.org/wp-content/uploads/2019/05/UBF-Business-Plan.pdf.

  16. 16.

    See https://earthworks.org/stories/akyem_mine_ghana/.

  17. 17.

    See https://www.shell.ca/en_ca/sustainability/environment/land-conservation.html#vanity-aHR0cHM6Ly93d3cuc2hlbGwuY2EvZW4vZW52aXJvbm1lbnQtc29jaWV0eS9lbnZpcm9ubWVudC10cGtnL3RydWUtbm9ydGguaHRtbA.

  18. 18.

    See for example: http://stopheathrowexpansion.co.uk/our-history/.

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Apostolopoulou, E. (2020). Value or Rent? A Marxist Analysis of Offsetting. In: Nature Swapped and Nature Lost. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-46788-3_4

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