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<p class="MsoNormal"><b><span style="color:black">Philosophy Seminars 2013<o:p></o:p></span></b></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black">The Writing and Society Research Centre and Philosophy@UWS</span><span lang="EN-US" style="color:#1F497D">
</span><span lang="EN-US" style="color:black">present:</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"> <o:p></o:p></span></p>
<p class="MsoNormal"><b><span lang="EN-US" style="color:black">Jon Roffe<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="color:black">University of Melbourne<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black">TITLE: <b>From the labour theory of value to a philosophy of market price<o:p></o:p></b></span></p>
<p class="MsoNormal"><span style="color:black"> <o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black">DATE/TIME: Wednesday 15 May, 3.30 pm - 5.00 pm</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"> <o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black">PLACE: University of Western Sydney, Bankstown Campus, Building 3, Room 3.G.54</span><span lang="EN-US" style="color:#1F497D"> <a href="http://www.uws.edu.au/campuses_structure/cas/campuses/bankstown" target="_blank">[How
to get to Bankstown Campus]</a></span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:black">Abstract: <o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black">This paper presents one piece of a broader effort to elaborate what I would like to call
<i>abstract market theory</i>, an immanent theory of the market. Here, I will consider two challenges to the possibility of such a theory
<a name="_GoBack"></a>that arise from Marx’s work, namely the labour theory of value, and the opposition he advances (notably in book three of
<i>Capital </i>and <i>Theory of Surplus Value</i>) between real capital and fictitious capital.
</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black"> </span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black">The central contention I would like to advance is that while Marx is right to assert that the labour theory of value accounts for the
<i>advent</i> of the element of price (and thus the market, on my definition), it does not account for the ongoing subsistent reality of the market, which is integrally the regime of price. I will argue that the market as it now exists in no way intrinsically
concerned with issues of value, but with a pricing-process that is real without being anchored in material reality – which is to say that the market has no mirror and is not a double of any underlying real economy. I will argue for this conclusion by considering
the history and functioning of financial derivatives themselves, which I will assert (following Elie Ayache) to be the royal road to a philosophy of the market.</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoPlainText"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:black">Biography:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><span lang="EN-US" style="color:#222222">Jon<span class="apple-converted-space"> </span><span class="il"><span style="background:#FFFFCC">Roffe</span></span><span class="apple-converted-space"> </span>is a McKenzie
Postdoctoral Fellow at the University of Melbourne. He is one of the editors of the journal Parrhesia (</span><span class="MsoHyperlink"><span lang="EN-US" style="color:#1155CC"><a href="http://www.parrhesiajournal.org">www.parrhesiajournal.org</a></span></span><span lang="EN-US" style="color:#222222">),
and the author of Badiou's Deleuze (Acumen 2012), the book of aphorisms Muttering for the Sake of Stars (Surpllus 2012) and, with AJ Bartlett and Justin Clemens the forthcoming Lacan Deleuze Badiou (EUP 2013).</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"> <o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-US" style="color:black">For the entire 2013 program of the Philosophy seminar series at UWS see:
</span><span lang="EN-US" style="color:#1F497D"><a href="http://www.uws.edu.au/philosophy/philosophy@uws/events/research_seminars_2013" target="_blank">http://www.uws.edu.au/philosophy/philosophy@uws/events/research_seminars_2013</a></span><span style="font-size:10.0pt;color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB" style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"> <o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB" style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">- - - - - - - - -<br>
</span>Mariana Fragueiro<o:p></o:p></p>
<p class="MsoNormal">Administration Coordinator, Philosophy Research Initiative<o:p></o:p></p>
<p class="MsoNormal">University of Western Sydney<o:p></o:p></p>
<p class="MsoNormal">Bankstown Campus Building 5<o:p></o:p></p>
<p class="MsoNormal">Locked Bag 1797<o:p></o:p></p>
<p class="MsoNormal">Penrith NSW 2751<o:p></o:p></p>
<p class="MsoNormal">+61 2 9772 6190<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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