Value is Simple. Valuation is Complex

ABSTRACT

Value can appear so complicated that it is not only a terribly intimidating topic, but actually fruitless to pursue. That is, the concept of value is either a dead end or best left to the experts. We disagree. At the most general level, having value can be understood as having the capacity to be measured and compared against another thing (or a standard). This is consistent with Marxian concepts (which are elaborated with special reference to the capitalist value form), but it is also simple and general enough to provide a transportable frame for discussing the role of value and measurement in any context imaginable, whether it be a discussion of spiritualism, collective action, economic data, or physical science. Marx directs our attention to the political constitution of systems of measure on the very first page of Capital, and there is now a great deal of work in geography and in science and technology studies on the social constitution of systems of valuation. We believe a crucial topic deserves an accessible approach that reveals unities rather than barriers, and thus supplement them with the moral and critical political-economic critique made possible by Marxian value theory.

KEYWORDS:

• Value
• politics
• performativity
• regimes of value

Acknowledgements

The authors thank Kelly Kay, Miles Kenney-Lazar, Brett Christophers, and one anonymous reviewer for their comments on previous drafts of this paper, and Stefan Dalsgaard for conversations that distinctly informed our argument. All usual disclaimers apply.

Disclosure Statement

No potential conflict of interest was reported by the author.

Notes

1 This is a stylised process of measure, the selection of semiotic values, and their relationship to co-present valuation regimes. Other considerations include the appropriate level of accuracy in measure, moral valuation of species other than humans, and the issue of which humans’ health is valued. This is true of any example we might choose to present because values, as a practice of indexification, are always built upon ever more ontologically entrenched valuation regimes.

Additional information

Funding

This work contributes to the FP7 Marie Curie Initial Training Network ENTITLE project (number: 289374). European Commission.