The World's Greatest Books — Volume 14 — Philosophy and Economics
Philosophy
The World's Greatest Books — Volume 14 — Philosophy and Economics
Economics; Philosophy
Terrible cruelty characterised much of the development of industrial
capitalism, both on the Continent and in England. The birth of modern
industry is heralded by a great slaughter of the innocents. Like the
royal navy, the factories were recruited by the press-gang. Cottages and
workhouses were ransacked for poor children to recruit the factory
staffs, and these were forced to work by turns during the greater part
of the night. As Lancashire was thinly populated and great numbers of
hands were suddenly wanted, thousands of little hapless creatures, whose
nimble little fingers were especially wanted, were sent down to the
north from the workhouses of London, Birmingham, and other towns. These
apprentices were flogged, tortured, and fettered. The profits of
manufacturers were enormous. At length Sir Robert Peel brought in his
bill for the protection of children.
With the growth of capitalist production during the manufacturing period
the public conscience of Europe had lost the last remnant of shame, and
the nations cynically boasted of every infamy that reinforced
capitalistic accumulation. Liverpool waxed fat on the slave trade. The
child-slavery in the European manufactories needed for its pedestal the
slavery, pure and simple, of the negroes imported into America. If
money, according to Marie Augier, "comes into the world with a
congenital bloodstain on one cheek," capital comes dripping from head to
foot, from every pore, with blood and dirt.
_III.--Commodities, Exchange and Capital_
A commodity is an object, external to ourselves, which by its properties
in some way satisfies human wants. The utility of a thing constitutes
its use-value. Use-values of commodities form the substance of all
wealth, and also become the material repositories of exchange-value. The
magnitude of the value of any article is determined by the labour-time
socially necessary for its production. So the value of a commodity would
remain constant if the labour-time required for its production also
remained constant. But the latter varies with every variation in the
productiveness of labour.
An article may have use-value, and yet be without value, if its utility
is not due to labour, as in the case of air, or virgin soil, or natural
meadows. If a thing be useless, so is the labour contained in it, for,
as the labour does not count as such, it therefore creates no value. A
coat is worth twice as much as ten yards of linen, because the linen
contains only half as much labour as the coat. All labour is the
expenditure of human labour-power in a special form and with a definite
aim, and in this, its character of concrete useful labour, it produces
use-values.
Everyone knows, if he knows nothing else, that commodities have a value
form common to them all, and presenting a marked contrast with the
varied bodily forms of their use-values. I mean their money form.
Public-domain text, read in full here on John Shaqi.
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