A Million Dollars Isn’t Worth, In Value, What It Used To Be

(Highlights of The Post-Industrial, Post-Modern Theory of Value and Surplus Value)

One of the primary economic paradoxes that has always perked the curiosity of both bourgeois and Marxist political economists alike can be neatly encapsulated in a notorious quip uttered by the famous New York Yankee’s catcher and manager, Yogi Berra, who, once upon a time, famously pronounced: “a nickel isn’t worth a dime, anymore”.

In this simple Yogism lies one of the primary post-modern financial mechanisms by which neoliberal bourgeois-capitalists have sucked value out of the workforce/population, under the cover of western economic opulence, into their own coffers to the bewilderment and detriment of the workforce/population, which slowly sinks ever-deeper into debt misery.  Behind Berra’s quip rests a capitalist sleight of hand, which pivots on the hidden properties of post-modern value-determinations, embodied in fiat-money and wealth. Namely, what Berra’s quip points to is a transfer, or fluctuation, of “worth” over time and space, between a nickel and a dime, despite the fact that the relation between a nickel and a dime remains at face-value technically unchanged and timeless. Berra’s quip points to the declining value of money in society, meaning the declining purchasing power of money, year in and year out, over the passing decades. And this, in a nutshell, is the essence of the rising financial inequality festering across post-industrial,…

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