absolute, yet a relative equilibrium of values; but, in order that this may
be brought about, there must exist an unchangeable and reliable standard by
which the value of the things produced by labour can be measured. That the
labour expended by us upon shoe goods and upon textile fabrics, upon
cereals and turnery goods, possesses the same value is shown by the fact
that these various kinds of wares produced in the same period of time
possess the same value; but this fact can be shown, not by a comparison
between the respective amounts of labour-time, but only by a comparison
with something that has a constant value in itself. If we concluded that
the things which required an equal time to produce were of equal value
because they were produced in an equal time, we might soon find ourselves
producing shoes which no one wanted, while we were suffering from a lack of
textile fabrics; and we might see with unconcern the superfluity of turnery
wares, the production of which was increasing, while perhaps all available
hands were required in order to correct a disastrous lack of cereals. To
make the labour-day the measure of value--if it were not, for other
reasons, impossible--involves Communism, which, instead of leaving the
adjustment of the relations between supply and demand to free commerce,
fixes those relations by authority; doing this, of course, without asking
anyone what he wishes to enjoy, or what he wishes to do, but
authoritatively prescribing what everyone shall consume, and what he shall
produce.
Public-domain text, read in full here on John Shaqi.
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