Capitalism; Imperialism; Saving and investment; Socialism
'According to the doctrine of bourgeois economists, the value of a
product is determined by the labour employed in its manufacture. Yet
bourgeois economists, once they have given this determination of value,
immediately forget it and base their subsequent explanation of the
exchange phenomena upon a different theory which substitutes "costs of
production" for labour. Thus two products are mutually exchanged in such
quantities that the costs of production are equal on both sides. Such a
view of the process of exchange indeed leaves no room for a commodity
surplus inside the country. Any product of a worker's annual labour
must, from this point of view, represent a certain quantity of material
of which it is made, of tools which have been used in its manufacture,
and of the products which served to maintain the workers during the
period of production. It [presumably the product--R. L.] appears on the
market in order to change its use-form, to reconvert itself into
objects, into products for the workers and the value necessary for
renewing the tools. As soon as it is split up into its component parts,
the process of reassembling, the productive process, will begin, in the
course of which all the values listed above will be consumed. In their
stead, a new product will come into being which is the connecting link
between past and future consumption.'
From this perfectly unique attempt to demonstrate social reproduction as
a continuous process in the light of the costs of production, the
following conclusion is promptly drawn: Considering thus the aggregate
bulk of a country's products, we shall find no commodity surplus at all
over and above the demand of society; an unmarketable surplus is
therefore impossible from the point of view of a bourgeois economic
theory of value.'
Yet, after having eliminated capitalist profit from the costs of
production by an extremely autocratic manhandling of the bourgeois
theory of value, Vorontsov immediately presents this deficiency as a
great discovery: 'The above analysis, however, reveals yet another
feature in the theory of value prevalent of late: it becomes evident
that this theory leaves no room for capitalist profits.'
The argument that follows is striking in its brevity and simplicity:
'Indeed, if I exchange my own product, representing a cost of production
of 5 roubles, for another product of equal value, I receive only so much
as will be sufficient to cover my expense, but for my abstinence
[literally so--R. L.] I shall get nothing.'
And now Vorontsov really comes to grips with the root of the problem:
Public-domain text, read in full here on John Shaqi.
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