A Contribution to the Critique of Political Economy — John Shaqi
A Contribution to the Critique of Political EconomyMarx, Karl
Philosophy
A Contribution to the Critique of Political Economy
Marx, Karl
Economics; Marxian economics
that reason he sees no inner connection between money and labor which
creates exchange value, and considers money merely as an instrument
introduced from outside into the sphere of exchange for purposes of
technical convenience.[26] Franklin’s analysis of exchange value did
not exert any direct influence on the general trend of science, because
he discussed only special questions of political economy whenever there
was a definite practical occasion for it.
The contrast between useful work and labor which creates exchange
value agitated all Europe during the eighteenth century in the form of
this question: what particular kind of labor constitutes the source
of bourgeois wealth? It was thus assumed that not every kind of labor
which is realized in use-values or yields certain products does
thereby directly create wealth. With the physiocrats, however, as well
as with their opponents, the burning question was not, what kind of
labor creates _value_, but which is it that creates _surplus value_.
They approached the problem in its complicated form before they had
solved it in its elementary form; such is the historical course of
all sciences leading them by a labyrinth of intersecting paths to the
real starting points. Unlike other builders, science not only erects
castles in the air, but constructs separate stories of the building,
before it has laid the foundation. Without dwelling any longer on the
physiocrats and omitting quite a number of Italian economists who in
some more or less ingenious ideas came close to a correct analysis
of the nature of commodity,[27] we pass at once to the first Briton
who elaborated the general system of bourgeois economics, Sir James
Steuart.[28] His idea of exchange value as well as all the abstract
categories of political economy still seem to be with him in the
process of differentiation from the material elements they represent
and therefore appear quite vague and unsettled. In one place he
determines _real value by labor-time_ (“what a workman can perform in
a day”), but immediately creates confusion by introducing the elements
of wages and raw material.[29] In another place his struggle with the
material substance of the subject he treats of is revealed even more
strikingly. He calls the material of nature contained in a commodity,
such as the silver in a silver plate, its “intrinsic worth,” while the
labor-time contained in it he calls “useful value.” The former, he says
“is ... something real in itself,” while “the value of the second must
be estimated according to the labour it has cost to produce it.... The
labour employed in the modification [of the substance] represents a
portion of a man’s time.”[30]
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