Therefore, they conclude, it is necessary to fall back on
scarcity and opinion.
These economists, if they will allow me to say it, herein have
shown themselves wonderfully careless. Labor is said TO HAVE
VALUE, not as merchandise itself, but in view of the values
supposed to be contained in it potentially. The VALUE OF LABOR
is a figurative expression, an anticipation of effect from cause.
It is a fiction by the same title as the PRODUCTIVITY OF
CAPITAL. Labor produces, capital has value: and when, by a sort
of ellipsis, we say the value of labor, we make an enjambement
which is not at all contrary to the rules of language, but which
theorists ought to guard against mistaking for a reality. Labor,
like liberty, love, ambition, genius, is a thing vague and
indeterminate in its nature, but qualitatively defined by its
object,--that is, it becomes a reality through its product.
When, therefore, we say: This man's labor is worth five francs
per day, it is as if we should say: The daily product of this
man's labor is worth five francs.
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