Capitalism; Imperialism; Saving and investment; Socialism
The 'counterweight' which in the hand of the workers increases the
'value' of 'what is retained' by the entrepreneurs, can in this context
only be the demand. Once again, we have landed happily at the familiar
_Ort_ of v. Kirchmann's where workers and capitalists exchange their
incomes for the surplus product, and where the crises arise because
variable capital is small and the surplus value large. This peculiar
notion has already been dealt with above. There are other occasions,
however, when Rodbertus advances a somewhat different conception. The
interpretation of his theory in the fourth _Letter on Social Problems_
is that the continual shifts in the relations of demand, evident in the
share of the working class and caused by the share of the capitalist
class, must result in a chronic disproportion between production and
consumption.
'What if the entrepreneurs endeavour to keep always within the limits of
those shares, yet the shares themselves are all the time on the decline
for the great majority of the society, the workers, decreasing
gradually, unnoticeably, but with relentless force?--What if the share
of these classes is continually decreasing to the same extent as their
productivity is increasing?'--'Is it not really the fact that the
capitalists of necessity organise production in accordance with the
present volume of shares in order to make wealth universal, and that yet
they always produce over and above this volume (of previous shares),
thereby perpetuating dissatisfaction which culminates in this stagnation
of trade?'[258]
On this showing, the explanation of crises should be as follows: the
national product consists of a number of 'common goods', as v. Kirchmann
puts it, for the workers, and of superior goods for the capitalists. The
wages represent the quantity of the former, and aggregate surplus value
that of the latter. If the capitalists organise their production on this
footing, and if at the same time there is progressive productivity, a
lack of proportion will immediately ensue. For the share of the workers
to-day is no longer that of yesterday, but less. If the demand for
'common goods' had involved, say, six-sevenths of the national product
yesterday, then to-day it involves only five-sevenths, and the
entrepreneurs, having provided for six-sevenths of 'common goods', will
find to their painful surprise that they over-produced by one-seventh.
Now, wiser by this experience, they try to organise to-morrow's output
of 'common goods' to a mere five-sevenths of the total value of the
national product, but they have a new disappointment coming to them,
since the share of the national product falling to wages to-morrow is
bound to be only four-sevenths, and so on.
Public-domain text, read in full here on John Shaqi.
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