| Abstract: | This paper suggests that the concept of metabolic rift situated in ‘the labor theory of value’ is not an adequate theoretical tool to historically explore capitalist development as a socio-ecological process and socio-historical domination of ecology. It situates the concept of nature in Marx’s critique of political economy and the concept of the metabolic rift in relation to his theory of value. Then, it explores two distinctive historical approaches to the relationship between ecology and capitalist development within the world-historical studies, i.e. the world-ecology perspective and the uneven ecological exchange perspective, in relation to their theoretical and epistemological premises. How they operationalize or recast Marx’s theory of value in understanding this relationship opens a realm to rethink the value theory in relation to nature and the socio-ecological nature of capitalist relations of production. Based on this, it proposes to reconsider the value theory as a value theory of nature in order to recognize the historical specificity of socio-ecological relations, and their historical transformation and alienation, as an integral constituent of the historical narrative of capitalist development. |
