That “terrible first section: On Louis Althusser’s Critique of the Marxian Theory of Value

This paper reconstructs Louis Althusser’s criticism of the first section of Capital and the notion of fetishism. It argues that Marx’s theory of value is not properly conceivable on the basis of Althusser’s theory of science. Therefore, his rejection of value form analysis and the concept of economic mystification is a logical consequence of his epistemological positions.This paper reconstructs Louis Althusser’s criticism of the first section of Capital and the notion of fetishism. It argues that Marx’s theory of value is not properly conceivable on the basis of Althusser’s theory of science. Therefore, his rejection of value form analysis and the concept of economic mystification is a logical consequence of his epistemological positions