Value Isn’t Everything (2018)

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by John Bellamy Foster and Paul Burkett (Monthly Review) 2018

The rapid advances in Marxian ecology in the last two decades have given rise to extensive debates within the left, reflecting competing conceptions of theory and practice in an age of planetary ecological and social crisis. One key area of dispute is associated with the attempt by a growing number of radical environmental thinkers to deconstruct the labor theory of value in order to bring everything in existence within a single commodity logic, replicating in many ways the attempts of liberal environmentalists to promote the notion of “natural capital,” and to impute commodity prices to “ecosystem services.”1 For many in Green circles, Karl Marx and a long tradition of Marxian theorists are to be faulted for not directly incorporating the expenditure of physical work/energy by extra-human nature into the theory of value.

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