But in this case there has been no increase of value; the value
has merely changed hands; Peter has £10 more than he had before, and
Paul £10 less. The commodities have between them after the transaction,
as they had before it, a total value of £90, and that total cannot be
increased by a mere change of possessor.
Having thus established to his satisfaction that commerce, being only a
series of exchanges, cannot produce any increase of value, or what he
terms surplus value, Marx says that that only makes the problem of the
origin of surplus value more enigmatical than ever. For we are thus left
in presence of an apparent contradiction: surplus value cannot spring up
in the circulation of commodities because circulation is nothing but an
exchange of equivalents; and yet surplus value cannot spring up anywhere
except in circulation, because the class of persons who receive it and
live by it do not produce. Here, then, is a riddle, and Marx sets
himself to rede it. True, he says, value is not created directly in the
market, but a commodity is purchased in the market which has the
remarkable property of creating value. That commodity is the human
powers of labour. The very use of these powers, their consumption, their
expenditure, is the creation of value. But marvellous as they are, their
possessor is obliged to sell them, because while they are yielding their
product he must meanwhile live, and he sells a day's use of them for a
day's means of living. They create in a day far more than the value of
the wages for which they are bought. This excess is surplus value, and
is the secret and fountainhead of all accumulations of capital. Powers
which can create six shillings worth in a day may be procured in the
market for three shillings, because three shillings will pay for their
necessary maintenance. Surplus value is the difference between the value
of the labourer's necessary maintenance and the value of the labourer's
production, and it is in the present system entirely appropriated by the
dealer who advances him his wages.
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