Bailey, who have occupied themselves with the analysis of the form of value, have been unable to arrive at any result, first, because they confuse the form of value with value itself; and second, because, under the coarse influence of the practical bourgeois, they
exclusively
give their attention to the quantitative aspect of the question.
Marx - Capital-Volume-I
All the characteristics of Robinson's labour are here repeated, but with this difference, that they are social, instead of individual.
Everything produced by him was exclusively the result of his own personal labour, and therefore simply an object of use for himself.
The total product of our community is a social product.
One portion serves as fresh means of production and remains social.
But another portion is consumed by the members as means of subsistence.
A distribution of this portion amongst them is consequently necessary.
The mode of this distribution will vary with the productive organisation of the community, and the degree of historical development attained by the producers.
We will assume, but merely for the sake of a parallel with the production of commodities, that the share of each individual producer in the means of subsistence is determined by his labour time.
Labour time would, in that case, play a double part.
Its apportionment in accordance with a definite social plan maintains the proper proportion between the different kinds of work to be done and the various wants of the community.
On the other hand, it also serves as a measure of the portion of the common labour borne by each individual, and of his share in the part of the total product destined for individual consumption.
The social relations of the individual producers, with regard both to their labour and to its products, are in this case perfectly simple and intelligible, and that with regard not only to production but also to distribution.
The religious world is but the reflex of the real world. And for a society based upon the production of commodities, in which the producers in general enter into social relations with one another by treating their products as commodities and values, whereby they reduce their individual private labour to the standard of homogeneous human labour - for such a society, Christianity with its cultus of abstract man, more especially in its bourgeois developments, Protestantism, Deism, &c. , is the most fitting form of religion. In the ancient Asiatic and other ancient modes of production, we find that the conversion of products into commodities, and
? 51 Chapter 1
therefore the conversion of men into producers of commodities, holds a subordinate place, which, however, increases in importance as the primitive communities approach nearer and nearer to their dissolution. Trading nations, properly so called, exist in the ancient world only in its interstices, like the gods of Epicurus in the Intermundia, or like Jews in the pores of Polish society. Those ancient social organisms of production are, as compared with bourgeois society, extremely simple and transparent. But they are founded either on the immature development of man individually, who has not yet severed the umbilical cord that unites him with his fellowmen in a primitive tribal community, or upon direct relations of subjection. They can arise and exist only when the development of the productive power of labour has not risen beyond a low stage, and when, therefore, the social relations within the sphere of material life, between man and man, and between man and Nature, are correspondingly narrow. This narrowness is reflected in the ancient worship of Nature, and in the other elements of the popular religions. The religious reflex of the real world can, in any case, only then finally vanish, when the practical relations of every- day life offer to man none but perfectly intelligible and reasonable relations with regard to his fellowmen and to Nature.
The life-process of society, which is based on the process of material production, does not strip off its mystical veil until it is treated as production by freely associated men, and is consciously regulated by them in accordance with a settled plan. This, however, demands for society a certain material ground-work or set of conditions of existence which in their turn are the spontaneous product of a long and painful process of development.
Political Economy has indeed analysed, however incompletely,32 value and its magnitude, and has discovered what lies beneath these forms. But it has never once asked the question why labour is represented by the value of its product and labour time by the magnitude of that value. 33 These formulae, which bear it stamped upon them in unmistakable letters that they belong to a state of society, in which the process of production has the mastery over man, instead of being controlled by him, such formulae appear to the bourgeois intellect to be as much a self-evident necessity imposed by Nature as productive labour itself. Hence forms of social production that preceded the bourgeois form, are treated by the bourgeoisie in much the same way as the Fathers of the Church treated pre-Christian religions. 34
To what extent some economists are misled by the Fetishism inherent in commodities, or by the objective appearance of the social characteristics of labour, is shown, amongst other ways, by the dull and tedious quarrel over the part played by Nature in the formation of exchange value. Since exchange value is a definite social manner of expressing the amount of labour bestowed upon an object, Nature has no more to do with it, than it has in fixing the course of exchange.
The mode of production in which the product takes the form of a commodity, or is produced directly for exchange, is the most general and most embryonic form of bourgeois production. It therefore makes its appearance at an early date in history, though not in the same predominating and characteristic manner as now-a-days. Hence its Fetish character is comparatively easy to be seen through. But when we come to more concrete forms, even this appearance of simplicity vanishes. Whence arose the illusions of the monetary system? To it gold and silver, when serving as money, did not represent a social relation between producers, but were natural objects with strange social properties. And modern economy, which looks down with such disdain on the monetary system, does not its superstition come out as clear as noon-day, whenever it treats of capital? How long is it since economy discarded the physiocratic illusion, that rents grow out of the soil and not out of society?
But not to anticipate, we will content ourselves with yet another example relating to the commodity form. Could commodities themselves speak, they would say: Our use value may be a
? 52 Chapter 1
thing that interests men. It is no part of us as objects. What, however, does belong to us as objects, is our value. Our natural intercourse as commodities proves it. In the eyes of each other we are nothing but exchange values. Now listen how those commodities speak through the mouth of the economist.
--Value? - (i. e. , exchange value) --is a property of things, riches? - (i. e. , use value) --of man. Value, in this sense, necessarily implies exchanges, riches do not. ? 35
--Riches? (use value) --are the attribute of men, value is the attribute of commodities. A man or a community is rich, a pearl or a diamond is valuable. . . ? A pearl or a diamond is valuable as a pearl or a diamond. 36
So far no chemist has ever discovered exchange value either in a pearl or a diamond. The economic discoverers of this chemical element, who by-the-bye lay special claim to critical acumen, find however that the use value of objects belongs to them independently of their material properties, while their value, on the other hand, forms a part of them as objects. What confirms them in this view, is the peculiar circumstance that the use value of objects is realised without exchange, by means of a direct relation between the objects and man, while, on the other hand, their value is realised only by exchange, that is, by means of a social process. Who fails here to call to mind our good friend, Dogberry, who informs neighbour Seacoal, that, --To be a well-favoured man is the gift of fortune; but reading and writing comes by Nature. ? 37
1 Karl Marx, --Zur Kritik der Politischen Oekonomie. ? Berlin, 1859, p. 3.
2 --Desire implies want, it is the appetite of the mind, and as natural as hunger to the body. . . The greatest number (of things) have their value from supplying the wants of the mind. ? Nicholas Barbon: --A Discourse Concerning Coining the New Money Lighter. In Answer to Mr. Locke's Considerations, &c. ? , London, 1696, pp. 2, 3.
3 --Things have an intrinsick vertue? (this is Barbon's special term for value in use) --which in all places have the same vertue; as the loadstone to attract iron? (l. c. , p. 6). The property which the magnet possesses of attracting iron, became of use only after by means of that property the polarity of the magnet had been discovered.
4 --The natural worth of anything consists in its fitness to supply the necessities, or serve the conveniencies of human life. ? (John Locke, --Some Considerations on the Consequences of the Lowering of Interest, 1691,? in Works Edit. Lond. , 1777, Vol. II. , p. 28. ) In English writers of the 17th century we frequently find --worth? in the sense of value in use, and --value? in the sense of exchange value. This is quite in accordance with the spirit of a language that likes to use a Teutonic word for the actual thing, and a Romance word for its reflexion.
5 In bourgeois societies the economic fictio juris prevails, that every one, as a buyer, possesses an encyclopedic knowledge of commodities.
6 --La valeur consiste dans le rapport d'e? change qui se trouve entre telle chose et telle autre entre telle mesure d'une production et telle mesure d'une autre. ? [--Value consists in the exchange relation between one thing and another, between a given amount of one product and a given amount of another? ] (Le Trosne: --De l'Inte? re^t Social. ? Physiocrates, Ed. Daire. Paris, 1846. p. 889. )
7 --Nothing can have an intrinsick value. ? (N. Barbon, t. c. , p. 6); or as Butler says - --The value of a thing is just as much as it will bring. ?
8 N. Barbon, l. c. , p. 53 and 7.
9 --The value of them (the necessaries of life), when they are exchanged the one for another, is regulated by the quantity of labour necessarily required, and commonly taken in producing them. ?
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(--Some Thoughts on the Interest of Money in General, and Particularly in the Publick Funds, &. ? Lond. , p. 36) This remarkable anonymous work written in the last century, bears no date. It is clear, however, from internal evidence that it appeared in the reign of George II, about 1739 or 1740.
10 --Toutes les productions d'un me^me genre ne forment proprement qu'une masse, dont le prix se de? termine en ge? ne? ral et sans e? gard aux circonstances particulie`res. ? [--Properly speaking, all products of the same kind form a single mass, and their price is determined in general and without regard to particular circumstances? ] (Le Trosne, l. c. , p. 893. )
11 K. Marx. l. c. , p. 6
12 I am inserting the parenthesis because its omission has often given rise to the misunderstanding that every product that is consumed by some one other than its producer is considered in Marx a commodity. [Engels, 4th German Edition]
13 Tutti i fenomeni dell'universo, sieno essi prodotti della mano dell'uomo, ovvero delle universali leggi della fisica, non ci danno idea di attuale creazione, ma unicamente di una modificazione della materia. Accostare e separare sono gli unici elementi che l'ingegno umano ritrova analizzando l'idea della riproduzione: e tanto e riproduzione di valore (value in use, although Verri in this passage of his controversy with the Physiocrats is not himself quite certain of the kind of value he is speaking of) e di ricchezze se la terra, l'aria e l'acqua ne' campi si trasmutino in grano, come se colla mano dell'uomo il glutine di un insetto si trasmuti in velluto ovvero alcuni pezzetti di metalio si organizzino a formare una ripetizione. ? [--All the phenomena of the universe, whether produced by the hand of man or through the universal laws of physics, are not actual new creations, but merely a modification of matter. Joining together and separating are the only elements which the human mind always finds on analysing the concept of reproduction and it is just the same with the reproduction of value? (value in use, although Verri in this passage of his controversy with the Physiocrats is not himself quite certain of the kind of value he is speaking of) --and of wealth, when earth, air and water in the fields are transformed into corn, or when the hand of man transforms the secretions of an insect into silk, or some pieces of metal are arranged to make the mechanism of a watch. ? ] - Pietro Verri, --Meditazioni sulla Economia Politica? [first printed in 1773] in Custodi's edition of the Italian Economists, Parte Moderna, t. XV. , p. 22.
14 Comp. Hegel, --Philosophie des Rechts. ? Berlin, 1840. p. 250.
15 The reader must note that we are not speaking here of the wages or value that the labourer gets for a given labour time, but of the value of the commodity in which that labour time is materialised. Wages is a category that, as yet, has no existence at the present stage of our investigation.
16 In order to prove that labour alone is that all-sufficient and real measure, by which at all times the value of all commodities can be estimated and compared, Adam Smith says, --Equal quantities of labour must at all times and in all places have the same value for the labourer. In his normal state of health, strength, and activity, and with the average degree of skill that he may possess, he must always give up the same portion of his rest his freedom, and his happiness. ? (--Wealth of Nations,? b. I. ch. V. ) On the one hand Adam Smith here (but not everywhere) confuses the determination of value by means of the quantity of labour expended in the production of commodities, with the determination of the values of commodities by means of the value of labour, and seeks in consequence to prove that equal quantities of labour have always the same value. On the other hand he has a presentiment, that labour, so far as it manifests itself in the value of commodities, counts only as expenditure of labour power, but he treats this expenditure as the mere sacrifice of rest, freedom, and happiness, not as at the same time the normal activity of living beings. But then, he has the modern wage-labourer in his eye. Much more aptly, the anonymous predecessor of Adam Smith, quoted above in note 9, this chapter, says --one man has employed himself a week in providing this necessary of life . . . and he that gives him some other in exchange cannot make a better estimate of what is a proper equivalent, than by
? ? 54 Chapter 1
computing what cost him just as much labour and time which in effect is no more than exchanging one man's labour in one thing for a time certain, for another man's labour in another thing for the same time. ? (l. c. , p. 39. ) [The English language has the advantage of possessing different words for the two aspects of labour here considered. The labour which creates use value, and counts qualitatively, is Work, as distinguished from Labour, that which creates Value and counts quantitatively, is Labour as distinguished from Work - Engels]
17 The few economists, amongst whom is S.
Bailey, who have occupied themselves with the analysis of the form of value, have been unable to arrive at any result, first, because they confuse the form of value with value itself; and second, because, under the coarse influence of the practical bourgeois, they exclusively give their attention to the quantitative aspect of the question. --The command of quantity . . . constitutes value. ? (--Money and its Vicissitudes. ? London, 1837, p. 11. By S. Bailey. )
18 The celebrated Franklin, one of the first economists, after Wm. Petty, who saw through the nature of value, says: --Trade in general being nothing else but the exchange of labour for labour, the value of all things is . . . most justly measured by labour. ? (--The works of B. Franklin, &c. ,? edited by Sparks. Boston, 1836, Vol. II. , p. 267. ) Franklin is unconscious that by estimating the value of everything in labour, he makes abstraction from any difference in the sorts of labour exchanged, and thus reduces them all to equal human labour. But although ignorant of this, yet he says it. He speaks first of --the one labour,? then of --the other labour,? and finally of --labour,? without further qualification, as the substance of the value of everything.
19 In a sort of way, it is with man as with commodities. Since he comes into the world neither with a looking glass in his hand, nor as a Fichtian philosopher, to whom --I am I? is sufficient, man first sees and recognises himself in other men. Peter only establishes his own identity as a man by first comparing himself with Paul as being of like kind. And thereby Paul, just as he stands in his Pauline personality, becomes to Peter the type of the genus homo.
20 Value is here, as occasionally in the preceding pages, used in sense of value determined as to quantity, or of magnitude of value.
21 This incongruity between the magnitude of value and its relative expression has, with customary ingenuity, been exploited by vulgar economists. For example - --Once admit that A falls, because B, with which it is exchanged, rises, while no less labour is bestowed in the meantime on A, and your general principle of value falls to the ground. . . If he [Ricardo] allowed that when A rises in value relatively to B, B falls in value relatively to A, he cut away the ground on which he rested his grand proposition, that the value of a commodity is ever determined by the labour embodied in it, for if a change in the cost of A alters not only its own value in relation to B, for which it is exchanged, but also the value of B relatively to that of A, though no change has taken place in the quantity of labour to produce B, then not only the doctrine falls to the ground which asserts that the quantity of labour bestowed on an article regulates its value, but also that which affirms the cost of an article to regulate its value' (J. Broadhurst: --Political Economy,? London, 1842, pp. 11 and 14. ) Mr. Broadhurst might just as well say: consider the fractions 10/20, 10/50, 10/100, &c. , the number 10 remains unchanged, and yet its proportional magnitude, its magnitude relatively to the numbers 20, 50, 100 &c. , continually diminishes. Therefore the great principle that the magnitude of a whole number, such as 10, is --regulated? by the number of times unity is contained in it, falls to the ground. [The author explains in section 4 of this chapter, pp. 80-81, note 2 (note 33 of this document), what he understands by --Vulgar Economy. ? - Engels]
22 Such expressions of relations in general, called by Hegel reflex categories, form a very curious class. For instance, one man is king only because other men stand in the relation of subjects to him. They, on the contrary, imagine that they are subjects because he is king.
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23 F. L. A. Ferrier, sous-inspecteur des douanes, --Du gouvernement conside? re? dans ses rapports avec le commerce,? Paris, 1805; and Charles Ganilh, --Des Syste`mes d'Economie Politique, - 2nd ed. , Paris, 1821.
24 In Homer, for instance, the value of an article is expressed in a series of different things II. VII. 472- 475.
25 For this reason, we can speak of the coat value of the linen when its value is expressed in coats, or of its corn value when expressed in corn, and so on. Every such expression tells us, that what appears in the use values, cost, corn, &c. , is the value of the linen. --The value of any commodity denoting its relation in exchange, we may speak of it as . . . corn value, cloth value, according to the commodity with which it is compared; and hence there are a thousand different kinds of value, as many kinds of value as there are commodities in existence, and all are equally real and equally nominal. ? (--A Critical Dissertation on the Nature, Measures and Causes of Value: chiefly in reference to the writings of Mr. Ricardo and his followers. ? By the author of --Essays on the Formation, &c. , of Opinions. ? London, 1825, p. 39. ) S. Bailey, the author of this anonymous work, a work which in its day created much stir in England, fancied that, by thus pointing out the various relative expressions of one and the same value, he had proved the impossibility of any determination of the concept of value. However narrow his own views may have been, yet, that he laid his finger on some serious defects in the Ricardian Theory, is proved by the animosity with which he was attacked by Ricardo's followers. See the Westminster Review for example.
26 It is by no means self-evident that this character of direct and universal exchangeability is, so to speak, a polar one, and as intimately connected with its opposite pole, the absence of direct exchangeability, as the positive pole of the magnet is with its negative counterpart. It may therefore be imagined that all commodities can simultaneously have this character impressed upon them, just as it can be imagined that all Catholics can be popes together. It is, of course, highly desirable in the eyes of the petit bourgeois, for whom the production of commodities is the nec plus ultra of human freedom and individual independence, that the inconveniences resulting from this character of commodities not being directly exchangeable, should be removed. Proudhon's socialism is a working out of this Philistine Utopia, a form of socialism which, as I have elsewhere shown, does not possess even the merit of originality. Long before his time, the task was attempted with much better success by Gray, Bray, and others. But, for all that, wisdom of this kind flourishes even now in certain circles under the name of --science. ? Never has any school played more tricks with the word science, than that of Proudhon, for --wo Begriffe fehlen, Da stellt zur rechten Zeit ein Wort sich ein. ? [--Where thoughts are absent, Words are brought in as convenient replacements,? Goethe's, Faust, See Proudhon's Philosophy of Poverty]
26a In the German edition, there is the following footnote here: --One may recall that China and the tables began to dance when the rest of the world appeared to be standing still - pour encourager les autres [to encourage the others]. ? The defeat of the 1848-49 revolutions was followed by a period of dismal political reaction in Europe. At that time, spiritualism, especially table-turning, became the rage among the European aristocracy. In 1850-64, China was swept by an anti-feudal liberation movement in the form of a large-scale peasant war, the Taiping Revolt. - Note by editors of MECW.
27 Among the ancient Germans the unit for measuring land was what could be harvested in a day, and was called Tagwerk, Tagwanne (jurnale, or terra jurnalis, or diornalis), Mannsmaad, &c. (See G. L. von Maurer, --Einleitung zur Geschichte der Mark, &c. Verfassung,? Munchen, 1854, p. 129 sq. )
28 When, therefore, Galiani says: Value is a relation between persons - --La Ricchezza e una ragione tra due persone,? - he ought to have added: a relation between persons expressed as a relation between things. (Galiani: Della Moneta, p. 221, V. III. of Custodi's collection of --Scrittori Classici Italiani di Economia Politica. ? Parte Moderna, Milano 1803. )
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29 What are we to think of a law that asserts itself only by periodical revolutions? It is just nothing but a law of Nature, founded on the want of knowledge of those whose action is the subject of it. ? (Friedrich Engels: --Umrisse zu einer Kritik der Nationalo? konomie,? in the --Deutsch-Franzo? sische Jahrbu? cher,? edited by Arnold Ruge and Karl Marx. Paris. 1844. )
30 Even Ricardo has his stories a` la Robinson. --He makes the primitive hunter and the primitive fisher straightway, as owners of commodities, exchange fish and game in the proportion in which labour time is incorporated in these exchange values. On this occasion he commits the anachronism of making these men apply to the calculation, so far as their implements have to be taken into account, the annuity tables in current use on the London Exchange in the year 1817. The parallelograms of Mr. Owen appear to be the only form of society, besides the bourgeois form, with which he was acquainted. ? (Karl Marx: --Zur Kritik, &c. . ? pp. 38, 39)
31 A ridiculous presumption has latterly got abroad that common property in its primitive form is specifically a Slavonian, or even exclusively Russian form. It is the primitive form that we can prove to have existed amongst Romans, Teutons, and Celts, and even to this day we find numerous examples, ruins though they be, in India. A more exhaustive study of Asiatic, and especially of Indian forms of common property, would show how from the different forms of primitive common property, different forms of its dissolution have been developed. Thus, for instance, the various original types of Roman and Teutonic private property are deducible from different forms of Indian common property. ? (Karl Marx, --Zur Kritik, &c. ,? p. 10. )
32 The insufficiency of Ricardo's analysis of the magnitude of value, and his analysis is by far the best, will appear from the 3rd and 4th books of this work. As regards value in general, it is the weak point of the classical school of Political Economy that it nowhere expressly and with full consciousness, distinguishes between labour, as it appears in the value of a product, and the same labour, as it appears in the use value of that product. Of course the distinction is practically made, since this school treats labour, at one time under its quantitative aspect, at another under its qualitative aspect. But it has not the least idea, that when the difference between various kinds of labour is treated as purely quantitative, their qualitative unity or equality, and therefore their reduction to abstract human labour, is implied. For instance, Ricardo declares that he agrees with Destutt de Tracy in this proposition: --As it is certain that our physical and moral faculties are alone our original riches, the employment of those faculties, labour of some kind, is our only original treasure, and it is always from this employment that all those things are created which we call riches. . . It is certain, too, that all those things only represent the labour which has created them, and if they have a value, or even two distinct values, they can only derive them from that (the value) of the labour from which they emanate. ? (Ricardo, --The Principles of Pol. Econ. ,? 3 Ed. Lond. 1821, p. 334. ) We would here only point out, that Ricardo puts his own more profound interpretation upon the words of Destutt. What the latter really says is, that on the one hand all things which constitute wealth represent the labour that creates them, but that on the other hand, they acquire their --two different values? (use value and exchange value) from --the value of labour. ? He thus falls into the commonplace error of the vulgar economists, who assume the value of one commodity (in this case labour) in order to determine the values of the rest. But Ricardo reads him as if he had said, that labour (not the value of labour) is embodied both in use value and exchange value. Nevertheless, Ricardo himself pays so little attention to the twofold character of the labour which has a twofold embodiment, that he devotes the whole of his chapter on --Value and Riches, Their Distinctive Properties,? to a laborious examination of the trivialities of a J. B. Say. And at the finish he is quite astonished to find that Destutt on the one hand agrees with him as to labour being the source of value, and on the other hand with J. B. Say as to the notion of value.
33 It is one of the chief failings of classical economy that it has never succeeded, by means of its analysis of commodities, and, in particular, of their value, in discovering that form under which value becomes exchange value. Even Adam Smith and Ricardo, the best representatives of the school, treat
? ? 57 Chapter 1
the form of value as a thing of no importance, as having no connection with the inherent nature of commodities. The reason for this is not solely because their attention is entirely absorbed in the analysis of the magnitude of value. It lies deeper. The value form of the product of labour is not only the most abstract, but is also the most universal form, taken by the product in bourgeois production and stamps that production as a particular species of social production, and thereby gives it its special historical character. If then we treat this mode of production as one eternally fixed by Nature for every state of society, we necessarily overlook that which is the differentia specifica of the value form, and consequently of the commodity form, and of its further developments, money form, capital form, &c. We consequently find that economists, who are thoroughly agreed as to labour time being the measure of the magnitude of value, have the most strange and contradictory ideas of money, the perfected form of the general equivalent. This is seen in a striking manner when they treat of banking, where the commonplace definitions of money will no longer hold water. This led to the rise of a restored mercantile system (Ganilh, &c. ), which sees in value nothing but a social form, or rather the unsubstantial ghost of that form. Once for all I may here state, that by classical Political Economy, I understand that economy which, since the time of W. Petty, has investigated the real relations of production in bourgeois society in contradistinction to vulgar economy, which deals with appearances only, ruminates without ceasing on the materials long since provided by scientific economy, and there seeks plausible explanations of the most obtrusive phenomena, for bourgeois daily use, but for the rest, confines itself to systematising in a pedantic way, and proclaiming for everlasting truths, the trite ideas held by the self-complacent bourgeoisie with regard to their own world, to them the best of all possible worlds.
34 --Les e? conomistes ont une singulie`re manie`re de proce? der. Il n'y a pour eux que deux sortes d'institutions, celles de l'art et celles de la nature.
The religious world is but the reflex of the real world. And for a society based upon the production of commodities, in which the producers in general enter into social relations with one another by treating their products as commodities and values, whereby they reduce their individual private labour to the standard of homogeneous human labour - for such a society, Christianity with its cultus of abstract man, more especially in its bourgeois developments, Protestantism, Deism, &c. , is the most fitting form of religion. In the ancient Asiatic and other ancient modes of production, we find that the conversion of products into commodities, and
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therefore the conversion of men into producers of commodities, holds a subordinate place, which, however, increases in importance as the primitive communities approach nearer and nearer to their dissolution. Trading nations, properly so called, exist in the ancient world only in its interstices, like the gods of Epicurus in the Intermundia, or like Jews in the pores of Polish society. Those ancient social organisms of production are, as compared with bourgeois society, extremely simple and transparent. But they are founded either on the immature development of man individually, who has not yet severed the umbilical cord that unites him with his fellowmen in a primitive tribal community, or upon direct relations of subjection. They can arise and exist only when the development of the productive power of labour has not risen beyond a low stage, and when, therefore, the social relations within the sphere of material life, between man and man, and between man and Nature, are correspondingly narrow. This narrowness is reflected in the ancient worship of Nature, and in the other elements of the popular religions. The religious reflex of the real world can, in any case, only then finally vanish, when the practical relations of every- day life offer to man none but perfectly intelligible and reasonable relations with regard to his fellowmen and to Nature.
The life-process of society, which is based on the process of material production, does not strip off its mystical veil until it is treated as production by freely associated men, and is consciously regulated by them in accordance with a settled plan. This, however, demands for society a certain material ground-work or set of conditions of existence which in their turn are the spontaneous product of a long and painful process of development.
Political Economy has indeed analysed, however incompletely,32 value and its magnitude, and has discovered what lies beneath these forms. But it has never once asked the question why labour is represented by the value of its product and labour time by the magnitude of that value. 33 These formulae, which bear it stamped upon them in unmistakable letters that they belong to a state of society, in which the process of production has the mastery over man, instead of being controlled by him, such formulae appear to the bourgeois intellect to be as much a self-evident necessity imposed by Nature as productive labour itself. Hence forms of social production that preceded the bourgeois form, are treated by the bourgeoisie in much the same way as the Fathers of the Church treated pre-Christian religions. 34
To what extent some economists are misled by the Fetishism inherent in commodities, or by the objective appearance of the social characteristics of labour, is shown, amongst other ways, by the dull and tedious quarrel over the part played by Nature in the formation of exchange value. Since exchange value is a definite social manner of expressing the amount of labour bestowed upon an object, Nature has no more to do with it, than it has in fixing the course of exchange.
The mode of production in which the product takes the form of a commodity, or is produced directly for exchange, is the most general and most embryonic form of bourgeois production. It therefore makes its appearance at an early date in history, though not in the same predominating and characteristic manner as now-a-days. Hence its Fetish character is comparatively easy to be seen through. But when we come to more concrete forms, even this appearance of simplicity vanishes. Whence arose the illusions of the monetary system? To it gold and silver, when serving as money, did not represent a social relation between producers, but were natural objects with strange social properties. And modern economy, which looks down with such disdain on the monetary system, does not its superstition come out as clear as noon-day, whenever it treats of capital? How long is it since economy discarded the physiocratic illusion, that rents grow out of the soil and not out of society?
But not to anticipate, we will content ourselves with yet another example relating to the commodity form. Could commodities themselves speak, they would say: Our use value may be a
? 52 Chapter 1
thing that interests men. It is no part of us as objects. What, however, does belong to us as objects, is our value. Our natural intercourse as commodities proves it. In the eyes of each other we are nothing but exchange values. Now listen how those commodities speak through the mouth of the economist.
--Value? - (i. e. , exchange value) --is a property of things, riches? - (i. e. , use value) --of man. Value, in this sense, necessarily implies exchanges, riches do not. ? 35
--Riches? (use value) --are the attribute of men, value is the attribute of commodities. A man or a community is rich, a pearl or a diamond is valuable. . . ? A pearl or a diamond is valuable as a pearl or a diamond. 36
So far no chemist has ever discovered exchange value either in a pearl or a diamond. The economic discoverers of this chemical element, who by-the-bye lay special claim to critical acumen, find however that the use value of objects belongs to them independently of their material properties, while their value, on the other hand, forms a part of them as objects. What confirms them in this view, is the peculiar circumstance that the use value of objects is realised without exchange, by means of a direct relation between the objects and man, while, on the other hand, their value is realised only by exchange, that is, by means of a social process. Who fails here to call to mind our good friend, Dogberry, who informs neighbour Seacoal, that, --To be a well-favoured man is the gift of fortune; but reading and writing comes by Nature. ? 37
1 Karl Marx, --Zur Kritik der Politischen Oekonomie. ? Berlin, 1859, p. 3.
2 --Desire implies want, it is the appetite of the mind, and as natural as hunger to the body. . . The greatest number (of things) have their value from supplying the wants of the mind. ? Nicholas Barbon: --A Discourse Concerning Coining the New Money Lighter. In Answer to Mr. Locke's Considerations, &c. ? , London, 1696, pp. 2, 3.
3 --Things have an intrinsick vertue? (this is Barbon's special term for value in use) --which in all places have the same vertue; as the loadstone to attract iron? (l. c. , p. 6). The property which the magnet possesses of attracting iron, became of use only after by means of that property the polarity of the magnet had been discovered.
4 --The natural worth of anything consists in its fitness to supply the necessities, or serve the conveniencies of human life. ? (John Locke, --Some Considerations on the Consequences of the Lowering of Interest, 1691,? in Works Edit. Lond. , 1777, Vol. II. , p. 28. ) In English writers of the 17th century we frequently find --worth? in the sense of value in use, and --value? in the sense of exchange value. This is quite in accordance with the spirit of a language that likes to use a Teutonic word for the actual thing, and a Romance word for its reflexion.
5 In bourgeois societies the economic fictio juris prevails, that every one, as a buyer, possesses an encyclopedic knowledge of commodities.
6 --La valeur consiste dans le rapport d'e? change qui se trouve entre telle chose et telle autre entre telle mesure d'une production et telle mesure d'une autre. ? [--Value consists in the exchange relation between one thing and another, between a given amount of one product and a given amount of another? ] (Le Trosne: --De l'Inte? re^t Social. ? Physiocrates, Ed. Daire. Paris, 1846. p. 889. )
7 --Nothing can have an intrinsick value. ? (N. Barbon, t. c. , p. 6); or as Butler says - --The value of a thing is just as much as it will bring. ?
8 N. Barbon, l. c. , p. 53 and 7.
9 --The value of them (the necessaries of life), when they are exchanged the one for another, is regulated by the quantity of labour necessarily required, and commonly taken in producing them. ?
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(--Some Thoughts on the Interest of Money in General, and Particularly in the Publick Funds, &. ? Lond. , p. 36) This remarkable anonymous work written in the last century, bears no date. It is clear, however, from internal evidence that it appeared in the reign of George II, about 1739 or 1740.
10 --Toutes les productions d'un me^me genre ne forment proprement qu'une masse, dont le prix se de? termine en ge? ne? ral et sans e? gard aux circonstances particulie`res. ? [--Properly speaking, all products of the same kind form a single mass, and their price is determined in general and without regard to particular circumstances? ] (Le Trosne, l. c. , p. 893. )
11 K. Marx. l. c. , p. 6
12 I am inserting the parenthesis because its omission has often given rise to the misunderstanding that every product that is consumed by some one other than its producer is considered in Marx a commodity. [Engels, 4th German Edition]
13 Tutti i fenomeni dell'universo, sieno essi prodotti della mano dell'uomo, ovvero delle universali leggi della fisica, non ci danno idea di attuale creazione, ma unicamente di una modificazione della materia. Accostare e separare sono gli unici elementi che l'ingegno umano ritrova analizzando l'idea della riproduzione: e tanto e riproduzione di valore (value in use, although Verri in this passage of his controversy with the Physiocrats is not himself quite certain of the kind of value he is speaking of) e di ricchezze se la terra, l'aria e l'acqua ne' campi si trasmutino in grano, come se colla mano dell'uomo il glutine di un insetto si trasmuti in velluto ovvero alcuni pezzetti di metalio si organizzino a formare una ripetizione. ? [--All the phenomena of the universe, whether produced by the hand of man or through the universal laws of physics, are not actual new creations, but merely a modification of matter. Joining together and separating are the only elements which the human mind always finds on analysing the concept of reproduction and it is just the same with the reproduction of value? (value in use, although Verri in this passage of his controversy with the Physiocrats is not himself quite certain of the kind of value he is speaking of) --and of wealth, when earth, air and water in the fields are transformed into corn, or when the hand of man transforms the secretions of an insect into silk, or some pieces of metal are arranged to make the mechanism of a watch. ? ] - Pietro Verri, --Meditazioni sulla Economia Politica? [first printed in 1773] in Custodi's edition of the Italian Economists, Parte Moderna, t. XV. , p. 22.
14 Comp. Hegel, --Philosophie des Rechts. ? Berlin, 1840. p. 250.
15 The reader must note that we are not speaking here of the wages or value that the labourer gets for a given labour time, but of the value of the commodity in which that labour time is materialised. Wages is a category that, as yet, has no existence at the present stage of our investigation.
16 In order to prove that labour alone is that all-sufficient and real measure, by which at all times the value of all commodities can be estimated and compared, Adam Smith says, --Equal quantities of labour must at all times and in all places have the same value for the labourer. In his normal state of health, strength, and activity, and with the average degree of skill that he may possess, he must always give up the same portion of his rest his freedom, and his happiness. ? (--Wealth of Nations,? b. I. ch. V. ) On the one hand Adam Smith here (but not everywhere) confuses the determination of value by means of the quantity of labour expended in the production of commodities, with the determination of the values of commodities by means of the value of labour, and seeks in consequence to prove that equal quantities of labour have always the same value. On the other hand he has a presentiment, that labour, so far as it manifests itself in the value of commodities, counts only as expenditure of labour power, but he treats this expenditure as the mere sacrifice of rest, freedom, and happiness, not as at the same time the normal activity of living beings. But then, he has the modern wage-labourer in his eye. Much more aptly, the anonymous predecessor of Adam Smith, quoted above in note 9, this chapter, says --one man has employed himself a week in providing this necessary of life . . . and he that gives him some other in exchange cannot make a better estimate of what is a proper equivalent, than by
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computing what cost him just as much labour and time which in effect is no more than exchanging one man's labour in one thing for a time certain, for another man's labour in another thing for the same time. ? (l. c. , p. 39. ) [The English language has the advantage of possessing different words for the two aspects of labour here considered. The labour which creates use value, and counts qualitatively, is Work, as distinguished from Labour, that which creates Value and counts quantitatively, is Labour as distinguished from Work - Engels]
17 The few economists, amongst whom is S.
Bailey, who have occupied themselves with the analysis of the form of value, have been unable to arrive at any result, first, because they confuse the form of value with value itself; and second, because, under the coarse influence of the practical bourgeois, they exclusively give their attention to the quantitative aspect of the question. --The command of quantity . . . constitutes value. ? (--Money and its Vicissitudes. ? London, 1837, p. 11. By S. Bailey. )
18 The celebrated Franklin, one of the first economists, after Wm. Petty, who saw through the nature of value, says: --Trade in general being nothing else but the exchange of labour for labour, the value of all things is . . . most justly measured by labour. ? (--The works of B. Franklin, &c. ,? edited by Sparks. Boston, 1836, Vol. II. , p. 267. ) Franklin is unconscious that by estimating the value of everything in labour, he makes abstraction from any difference in the sorts of labour exchanged, and thus reduces them all to equal human labour. But although ignorant of this, yet he says it. He speaks first of --the one labour,? then of --the other labour,? and finally of --labour,? without further qualification, as the substance of the value of everything.
19 In a sort of way, it is with man as with commodities. Since he comes into the world neither with a looking glass in his hand, nor as a Fichtian philosopher, to whom --I am I? is sufficient, man first sees and recognises himself in other men. Peter only establishes his own identity as a man by first comparing himself with Paul as being of like kind. And thereby Paul, just as he stands in his Pauline personality, becomes to Peter the type of the genus homo.
20 Value is here, as occasionally in the preceding pages, used in sense of value determined as to quantity, or of magnitude of value.
21 This incongruity between the magnitude of value and its relative expression has, with customary ingenuity, been exploited by vulgar economists. For example - --Once admit that A falls, because B, with which it is exchanged, rises, while no less labour is bestowed in the meantime on A, and your general principle of value falls to the ground. . . If he [Ricardo] allowed that when A rises in value relatively to B, B falls in value relatively to A, he cut away the ground on which he rested his grand proposition, that the value of a commodity is ever determined by the labour embodied in it, for if a change in the cost of A alters not only its own value in relation to B, for which it is exchanged, but also the value of B relatively to that of A, though no change has taken place in the quantity of labour to produce B, then not only the doctrine falls to the ground which asserts that the quantity of labour bestowed on an article regulates its value, but also that which affirms the cost of an article to regulate its value' (J. Broadhurst: --Political Economy,? London, 1842, pp. 11 and 14. ) Mr. Broadhurst might just as well say: consider the fractions 10/20, 10/50, 10/100, &c. , the number 10 remains unchanged, and yet its proportional magnitude, its magnitude relatively to the numbers 20, 50, 100 &c. , continually diminishes. Therefore the great principle that the magnitude of a whole number, such as 10, is --regulated? by the number of times unity is contained in it, falls to the ground. [The author explains in section 4 of this chapter, pp. 80-81, note 2 (note 33 of this document), what he understands by --Vulgar Economy. ? - Engels]
22 Such expressions of relations in general, called by Hegel reflex categories, form a very curious class. For instance, one man is king only because other men stand in the relation of subjects to him. They, on the contrary, imagine that they are subjects because he is king.
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23 F. L. A. Ferrier, sous-inspecteur des douanes, --Du gouvernement conside? re? dans ses rapports avec le commerce,? Paris, 1805; and Charles Ganilh, --Des Syste`mes d'Economie Politique, - 2nd ed. , Paris, 1821.
24 In Homer, for instance, the value of an article is expressed in a series of different things II. VII. 472- 475.
25 For this reason, we can speak of the coat value of the linen when its value is expressed in coats, or of its corn value when expressed in corn, and so on. Every such expression tells us, that what appears in the use values, cost, corn, &c. , is the value of the linen. --The value of any commodity denoting its relation in exchange, we may speak of it as . . . corn value, cloth value, according to the commodity with which it is compared; and hence there are a thousand different kinds of value, as many kinds of value as there are commodities in existence, and all are equally real and equally nominal. ? (--A Critical Dissertation on the Nature, Measures and Causes of Value: chiefly in reference to the writings of Mr. Ricardo and his followers. ? By the author of --Essays on the Formation, &c. , of Opinions. ? London, 1825, p. 39. ) S. Bailey, the author of this anonymous work, a work which in its day created much stir in England, fancied that, by thus pointing out the various relative expressions of one and the same value, he had proved the impossibility of any determination of the concept of value. However narrow his own views may have been, yet, that he laid his finger on some serious defects in the Ricardian Theory, is proved by the animosity with which he was attacked by Ricardo's followers. See the Westminster Review for example.
26 It is by no means self-evident that this character of direct and universal exchangeability is, so to speak, a polar one, and as intimately connected with its opposite pole, the absence of direct exchangeability, as the positive pole of the magnet is with its negative counterpart. It may therefore be imagined that all commodities can simultaneously have this character impressed upon them, just as it can be imagined that all Catholics can be popes together. It is, of course, highly desirable in the eyes of the petit bourgeois, for whom the production of commodities is the nec plus ultra of human freedom and individual independence, that the inconveniences resulting from this character of commodities not being directly exchangeable, should be removed. Proudhon's socialism is a working out of this Philistine Utopia, a form of socialism which, as I have elsewhere shown, does not possess even the merit of originality. Long before his time, the task was attempted with much better success by Gray, Bray, and others. But, for all that, wisdom of this kind flourishes even now in certain circles under the name of --science. ? Never has any school played more tricks with the word science, than that of Proudhon, for --wo Begriffe fehlen, Da stellt zur rechten Zeit ein Wort sich ein. ? [--Where thoughts are absent, Words are brought in as convenient replacements,? Goethe's, Faust, See Proudhon's Philosophy of Poverty]
26a In the German edition, there is the following footnote here: --One may recall that China and the tables began to dance when the rest of the world appeared to be standing still - pour encourager les autres [to encourage the others]. ? The defeat of the 1848-49 revolutions was followed by a period of dismal political reaction in Europe. At that time, spiritualism, especially table-turning, became the rage among the European aristocracy. In 1850-64, China was swept by an anti-feudal liberation movement in the form of a large-scale peasant war, the Taiping Revolt. - Note by editors of MECW.
27 Among the ancient Germans the unit for measuring land was what could be harvested in a day, and was called Tagwerk, Tagwanne (jurnale, or terra jurnalis, or diornalis), Mannsmaad, &c. (See G. L. von Maurer, --Einleitung zur Geschichte der Mark, &c. Verfassung,? Munchen, 1854, p. 129 sq. )
28 When, therefore, Galiani says: Value is a relation between persons - --La Ricchezza e una ragione tra due persone,? - he ought to have added: a relation between persons expressed as a relation between things. (Galiani: Della Moneta, p. 221, V. III. of Custodi's collection of --Scrittori Classici Italiani di Economia Politica. ? Parte Moderna, Milano 1803. )
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29 What are we to think of a law that asserts itself only by periodical revolutions? It is just nothing but a law of Nature, founded on the want of knowledge of those whose action is the subject of it. ? (Friedrich Engels: --Umrisse zu einer Kritik der Nationalo? konomie,? in the --Deutsch-Franzo? sische Jahrbu? cher,? edited by Arnold Ruge and Karl Marx. Paris. 1844. )
30 Even Ricardo has his stories a` la Robinson. --He makes the primitive hunter and the primitive fisher straightway, as owners of commodities, exchange fish and game in the proportion in which labour time is incorporated in these exchange values. On this occasion he commits the anachronism of making these men apply to the calculation, so far as their implements have to be taken into account, the annuity tables in current use on the London Exchange in the year 1817. The parallelograms of Mr. Owen appear to be the only form of society, besides the bourgeois form, with which he was acquainted. ? (Karl Marx: --Zur Kritik, &c. . ? pp. 38, 39)
31 A ridiculous presumption has latterly got abroad that common property in its primitive form is specifically a Slavonian, or even exclusively Russian form. It is the primitive form that we can prove to have existed amongst Romans, Teutons, and Celts, and even to this day we find numerous examples, ruins though they be, in India. A more exhaustive study of Asiatic, and especially of Indian forms of common property, would show how from the different forms of primitive common property, different forms of its dissolution have been developed. Thus, for instance, the various original types of Roman and Teutonic private property are deducible from different forms of Indian common property. ? (Karl Marx, --Zur Kritik, &c. ,? p. 10. )
32 The insufficiency of Ricardo's analysis of the magnitude of value, and his analysis is by far the best, will appear from the 3rd and 4th books of this work. As regards value in general, it is the weak point of the classical school of Political Economy that it nowhere expressly and with full consciousness, distinguishes between labour, as it appears in the value of a product, and the same labour, as it appears in the use value of that product. Of course the distinction is practically made, since this school treats labour, at one time under its quantitative aspect, at another under its qualitative aspect. But it has not the least idea, that when the difference between various kinds of labour is treated as purely quantitative, their qualitative unity or equality, and therefore their reduction to abstract human labour, is implied. For instance, Ricardo declares that he agrees with Destutt de Tracy in this proposition: --As it is certain that our physical and moral faculties are alone our original riches, the employment of those faculties, labour of some kind, is our only original treasure, and it is always from this employment that all those things are created which we call riches. . . It is certain, too, that all those things only represent the labour which has created them, and if they have a value, or even two distinct values, they can only derive them from that (the value) of the labour from which they emanate. ? (Ricardo, --The Principles of Pol. Econ. ,? 3 Ed. Lond. 1821, p. 334. ) We would here only point out, that Ricardo puts his own more profound interpretation upon the words of Destutt. What the latter really says is, that on the one hand all things which constitute wealth represent the labour that creates them, but that on the other hand, they acquire their --two different values? (use value and exchange value) from --the value of labour. ? He thus falls into the commonplace error of the vulgar economists, who assume the value of one commodity (in this case labour) in order to determine the values of the rest. But Ricardo reads him as if he had said, that labour (not the value of labour) is embodied both in use value and exchange value. Nevertheless, Ricardo himself pays so little attention to the twofold character of the labour which has a twofold embodiment, that he devotes the whole of his chapter on --Value and Riches, Their Distinctive Properties,? to a laborious examination of the trivialities of a J. B. Say. And at the finish he is quite astonished to find that Destutt on the one hand agrees with him as to labour being the source of value, and on the other hand with J. B. Say as to the notion of value.
33 It is one of the chief failings of classical economy that it has never succeeded, by means of its analysis of commodities, and, in particular, of their value, in discovering that form under which value becomes exchange value. Even Adam Smith and Ricardo, the best representatives of the school, treat
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the form of value as a thing of no importance, as having no connection with the inherent nature of commodities. The reason for this is not solely because their attention is entirely absorbed in the analysis of the magnitude of value. It lies deeper. The value form of the product of labour is not only the most abstract, but is also the most universal form, taken by the product in bourgeois production and stamps that production as a particular species of social production, and thereby gives it its special historical character. If then we treat this mode of production as one eternally fixed by Nature for every state of society, we necessarily overlook that which is the differentia specifica of the value form, and consequently of the commodity form, and of its further developments, money form, capital form, &c. We consequently find that economists, who are thoroughly agreed as to labour time being the measure of the magnitude of value, have the most strange and contradictory ideas of money, the perfected form of the general equivalent. This is seen in a striking manner when they treat of banking, where the commonplace definitions of money will no longer hold water. This led to the rise of a restored mercantile system (Ganilh, &c. ), which sees in value nothing but a social form, or rather the unsubstantial ghost of that form. Once for all I may here state, that by classical Political Economy, I understand that economy which, since the time of W. Petty, has investigated the real relations of production in bourgeois society in contradistinction to vulgar economy, which deals with appearances only, ruminates without ceasing on the materials long since provided by scientific economy, and there seeks plausible explanations of the most obtrusive phenomena, for bourgeois daily use, but for the rest, confines itself to systematising in a pedantic way, and proclaiming for everlasting truths, the trite ideas held by the self-complacent bourgeoisie with regard to their own world, to them the best of all possible worlds.
34 --Les e? conomistes ont une singulie`re manie`re de proce? der. Il n'y a pour eux que deux sortes d'institutions, celles de l'art et celles de la nature.
