gurrier said:
1. Value, being an abstract concept, is always independent of whatever tokens represent it, whether the tokes be cowrie shells, blocks of salt, bars of gold, paper sheets, or binary codes.
2. Not unless you can't translate financial value into material goods anymore. As far as I can see the fidelity of the financial value -> material goods relationship is as strong as it's ever been.
3. Are the police who will imprison me if I misbehave with the tokens of value puerly imaginary?
4. I think that this is a plausible conclusion if you analyse systems of value representation in isolation from their social context. However, I believe that 'value' merely expresses a power relationship. In my way of looking at the world, value tokens have always represented an ability to exert power over other people. All tokens of value have been signifiers of this underlying 'value'. From cowrie shells to blocks of salt, paper bills and binary sequences, I do not believe that there has been a fundamental change in the materiality or the abstract nature of value.
5. Not true. None of the world's richest people made their wealth through financial speculation.
6. That's just silly. Love does things, fear does things, has power, etc. You can make the same assertion about any generalised abstraction.
7. That's ridiculous. You seem to be applying a uniquely bizzare definition of supernatural here. As the word is commonly used, it does not mean 'imposing human concepts on natural objects'. For example, if I was to say "that bunny rabbit is cute" it would be 'imposing human concepts on natural objects' but very few people would see it as being 'supernatural'. Of course, the cuteness of the bunny would obscure its "natural essence" too. You are, once again, twisting the meaning of words to suit your conclusion.
8. Love/Fear/Hate/etc have material effects that transcend volition of human agents. Once again this assertion can be made about any abstract concept that is totalised across the species.
I have numbered your points for convenience.
1. Yes, value has always been independent of the tokens which represent it. But what's interesting is that people haven't always *known* this. Until three or four hundred years ago, it was universally believed that gold and other specie were identical with value. The progressive de-materialization of money in our own time has revealed the real truth about financial value, which is that it does not exist in any material form.
2. Only a fraction of the financial value that allegedly exists could be translated into material form. There is simply not enough "stuff" in the world to match the amount of value. Economists abandoned the myth that value referred to, and could theoretically be translated into, a material form when they dropped the gold standard.
3. No, the police are clearly not imaginary. This is why I say that value has *real* power and effects, and this is one of the reasons why it is unlike any other idea. It is a *coercive* power, it *forces* us to believe in it.
4. Value does not "express" a power relationship, it is *part* of such a relationship. That relationship is between value and the labour-power which it represents. These exist in a state of logical contradiction and dialectical antithesis: they are hostile to each other. Note that this opposition is independent of the class antagonism of bourgeoisie and proletariat. That antagonism was only one historical manifestation of the fundamental contradiction between value and labour-power.
5. You're wrong, but it is of no importance. My point is that value can be, and increasingly is, produced without any material production taking place. This happens in financial speculation, but we see the same tendency even within industry. The rise of "brands," for instance, shows how value inheres in ideas more than in matter: corporations like Nike don't actualy *produce* anything, they outsource the processes of production. All they "do" is promote the brand.
6. There are many differences between value and all other abstract ideas. I mentioned its coercive power above: no policeman will arrest you for failure to believe in love. To recap the rest of my differentiations: (a) value is human life; (b) value can take material form; (c) value is uniquely malign; (d) value can reproduce. None of these is true of any other "idea."
7. There is no difference between belief in financial value and belief in spirits. These categories are ontologically identical. Value is a supernatural concept in a way that love is not because of the real, coercive power that it exercises. It is not merely an abstraction from nature, it is also an imposition *on* nature. It changes and distorts the natural essence of *all* things in a uniquely systematic manner. I don't have the edition handy, but you're probably aware of the famous passages in the 1844 Manuscripts in which Marx describes the supernatural force of value: "all that is solid melts into air" and so forth?
8. Quite apart from the other differences, love, hate, fear etc. are not "totalized accross the species." They take very different forms in different cultures. This is not true of financial value (again as opposed to money), which is everywhere and always the same. It is the only truly universal idea in the world: another reason why it is so unique as not to qualify as an idea at all.