The questions which the workman ought to ask himself are not, “Does my labour give me much? Does it give me little? Does it give me as much as it gives to another? Does it give me what I desire?” The questions he should ask himself are these: “Does my labour give me less because I employ it in the service of the capitalist? Would it give me more if I worked in a state of isolation, or if I associated my labour with that of other workmen as destitute as myself? I am ill situated, but would I be better off were there no such thing as capital in the world? If the part which I obtain in consequence of my arrangement with capital is greater than what I would obtain without that arrangement, what reason have I to complain? And then, according to what laws would our respective shares go on increasing or diminishing were transactions free? If it be of the nature of these transactions to allow me, in proportion as the total product to be divided increases, to obtain a continually increasing proportion of the excess (c. vii., p. 212), then in place of breathing hatred against capital, ought I not to treat it as a friend? If it be indisputably established that the presence of capital is favourable to my interests, and that its absence would be death to me, am I very prudent or well-advised in calumniating it, frightening it away, and forcing its dissipation or flight?” In the discussion which precedes the bargain, an inequality of situation is constantly alleged, because capital can afford to wait, but labour cannot. The one upon which the greatest pressure bears must give way to the other, so that the capitalist in reality fixes the rate of wages.
Undoubtedly, looking at the surface of things, he who has created a stock, and who in consequence of this foresight can wait on, has the advantage in the bargain. Taking even an isolated transaction, the man who says, Do ut facias, is not in such a hurry to come to a conclusion as the man who replies, Facio ut des. For, when a man can say do, he possesses something to give; and when he possesses something to give, he can wait.[83]
We must not, however, lose sight of this, that value has the same principle, whether it resides in the service or in the product. If one of the parties says do, in place of facio, it is because he has had the foresight to execute the facio beforehand. In reality, it is the service on both sides which is the measure of the value. Now, [p386] if delay for present labour is a suffering, for anterior labour it is a loss. We must not then suppose that a man who says do, the capitalist, will amuse himself (above all if we consider the aggregate of his transactions) by deferring the bargain. In point of fact, do we see much capital idle for this reason? Do many manufacturers stop their mills, or shipowners delay their voyages, or agriculturists defer their harvests, on purpose to depreciate wages, and get hold of their workmen by means of famine?
But without denying that the position of the capitalists in relation to the workman is favourable in this respect, is there not something else to be considered with reference to their arrangements? For instance, is it not a circumstance quite in favour of present labour that accumulated labour loses value by mere lapse of time? I have elsewhere alluded to this phenomenon. But it is important to solicit the reader’s attention again to it in this place, seeing how great an influence it has upon the remuneration of present labour.
That which in my opinion renders Adam Smith’s theory, that value comes from labour, false, or at least incomplete, is that this theory assigns to value only one element, whilst, being a relation, it has necessarily two. Besides, if value springs exclusively from labour, and represents it, it would be proportionate to that labour, which is contrary to all observed facts.
No; value comes from service received and rendered; and the service depends as much, if not more, on the pains saved to the man who receives it, as upon the pains taken by the man who renders it. In this respect the most common facts confirm our reasoning. When I purchase a product, I may indeed ask myself, “How long time has it taken to make it?” And this undoubtedly is one of the elements of my estimate of its value. But again, and above all, I ask, “How long time would it take me to make it? How long time have I taken to make the thing which is asked from me in exchange?” When I purchase a service, I not only ask how much it will cost another to render that service to me, but how much it would cost me to render that service to myself.
These personal questions, and the answers which they call forth, are such essential elements in every estimate of value, that they most frequently determine it.
Try to purchase a diamond which has been found by chance. The seller will transfer to you very little labour, but he will ask from you a great deal. Why, then, should you consent to this? Because you take into account the labour which it saves you, the [p387] labour which you would be obliged to undergo in order to satisfy by any other means your desire to possess a diamond.
When an exchange, then, takes place between anterior labour and present labour, it is not at all on the footing of their intensity or duration, but on that of their value, that is to say, of the service which they render, and their relative utility. If the capitalist shall say, “Here is a product which cost me formerly ten hours’ labour;” and if the labourer be in a situation to reply, “I can produce the same thing in five hours,” the capitalist would be forced to give up the difference; for, I repeat, that it does not concern the present acquirer of a commodity to ask how much labour it formerly cost to produce it. What concerns him is to know what labour it will save him now, what service he is to expect from it.
A capitalist, in a general sense, is a man who, having foreseen that such or such a service would be in demand, has prepared beforehand to satisfy this demand by incorporating the value in a commodity.