A Contribution to the Critique of Political EconomyMarx, Karl
Philosophy
A Contribution to the Critique of Political Economy
Marx, Karl
Economics; Marxian economics
As a matter of fact, it was legally abolished
as early as 1734 by 14 George II., c. 42, and still earlier by actual
practice. There were two circumstances that made A. Müller capable of
a so-called higher conception of political economy: first, his wide
ignorance of economic facts; second, his dilettanti-like visionary
attitude toward philosophy.
[44] “Ἀνάχαρσις, πυνθανομένου τινὸς, πρὸς τί οί Ἕλληνες χρῶνται τῷ
ἀργυρίῳ ἕιπε πρὸς τὸ ἀριθμεῖν.” (Athen. Deipn. l. IV. 49. v. 2, ed.
Schweighäuser, 1802.) (When Anacharsis was asked for what purpose the
Greeks used money, he replied, “For reckoning.―‘’“”)
[45] G. Garnier, one of the early French translators of Adam Smith,
conceived the queer notion of fixing a proportion between the use of
money of account and that of actual money. His proportion is 10 to 1.
(G. Garnier, “Histoire de la Monnaie depuis les temps de la plus haute
antiquité,” etc., t. 1, p. 78.)
[46] The act of Maryland in 1723 by which tobacco was made the legal
standard, but its value reduced to terms of English gold money,
namely one penny equal to one pound of tobacco, reminds of the “leges
barbarorum,” in which, inversely, certain sums of money were expressed
in terms of oxen, cows, etc. In that case neither gold nor silver, but
the ox and the cow were the actual material of the money of account.
[47] Thus, we read, e. g., in the “Familiar Words” of Mr. David
Urquhart: “The value of gold is to be measured by itself; how can
any substance be the measure of its own worth in other things? The
worth of gold is to be established by its own weight, under a false
denomination of that weight―and an ounce is to be worth so many pounds
and fractions of pounds. This is falsifying a measure, not establishing
a standard.―‘’“”
[48] “Money is the measure of Commerce, and of the rate of everything,
and therefore ought to be kept (as all other measures) as steady and
invariable as may be. But this cannot be, if your money be made of
two Metals, whose proportion ... constantly varies in respect of one
another.” John Locke: Some Considerations on the Lowering of Interest,
etc., 1691 (p. 166, p. 65 in his Works 7 ed., London, 1768, vol. III.)
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account