Capitalism; Imperialism; Saving and investment; Socialism
Sismondi, justly impatient, now exclaims: 'The moment we want to find
out what is to constitute the surplus of production over consumption of
the workers, it will not do to abstract from that surplus which forms
the due profit of labour and the due share of the master.'[184]
MacCulloch's only reaction is to multiply his silly argument by a
thousand. He asks the reader to assume '1,000 farmers', and 'also 1,000
master-manufacturers' all acting as ingenuously as the individuals. The
exchange, then, proceeds as smoothly as can be desired. Finally, he
exactly doubles labour productivity 'in consequence of more skilful
application of labour and of the introduction of machinery--thus that
every one of the 1,000 farmers, by advancing food and clothing for 100
labourers, obtains a return consisting of ordinary food for 200 together
with sugar, grapes and tobacco equal in production cost to that food',
while every manufacturer obtains, by an analogous procedure, in addition
to the previous quantity of clothing for all workers, 'ribbands,
cambrics and lace, equal in productive cost, and therefore in
exchangeable value, to that clothing'.[185] After such complete reversal
of the chronological order, the assumption, that is, of first the
existence of private property with wage labour, and then, at a later
stage, such level of labour productivity as makes exploitation possible
at all, he now assumes labour productivity to progress with equal speed
in all spheres, the surplus product to contain precisely the same amount
of value in all branches of industry, and to be divided among precisely
the same number of people. When these various surplus products are then
exchanged against one another, is it any wonder that the exchange
proceeds smoothly and completely to everybody's satisfaction? It is only
another of his many absurdities that MacCulloch makes the capitalists
who had hitherto lived on air and exercised their profession in their
birthday suits, now live exclusively on sugar, tobacco and wine, and
array themselves only in ribbons, cambrics and lace.
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