But they have not thus understood it. What they believe is that Value has been communicated to matter, either by the labour of man or by the action of nature. In a word, deceived by the elliptical form of expression, gold is worth so much, corn is worth so much, they think they see in matter a quality called Value, just as the natural philosopher sees in it resistance and weight—and yet these attributes have been disputed.
Be that as it may, I dispute formally the existence of Value as an attribute of matter. [p153]
And first of all, it cannot be denied that Matter and Value are often found separated. When we say to a man—Carry that letter to its destination—fetch me some water—teach me this science or that manufacturing process—give me advice as to my sickness, or my law-suit—watch over my security, while I give myself up to labour or to sleep,—what we demand is a Service, and in that service we acknowledge in the face of the world that there resides a Value, seeing that we pay for it voluntarily by an equivalent service. It would be strange that we should refuse to admit in theory what universal consent admits in practice.
True, our transactions have reference frequently to material objects; but what does that prove? Why, that men, by exercising foresight, prepare to render services which they know to be in demand. I purchase a coat ready made, or I have a tailor to come to my house to work by the day; but does that change the principle of Value, so as to make it reside at one time in the coat and at another time in the service?
One might ask here this puzzling question—Must we not see the principle of Value first of all in the material object, and then attribute it by analogy to the services? I say that it is just the reverse. We must recognise it first of all in the services, and attribute it afterwards, if we choose, by a figure of speech, by metonymy, to the material objects.
The numerous examples which I have adduced render it unnecessary for me to pursue this discussion further. But I cannot refrain from justifying myself for having entered on it, by showing to what fatal consequences an error, or, if you will, an incomplete truth, may lead, when placed at the threshold of a science.
The least inconvenience of the definition which I am combating has been to curtail and mutilate Political Economy. If Value resides in matter, then where there is no matter there can be no Value. The Physiocrates[31] designated three-fourths of the entire population as sterile, and Adam Smith, softening the expression, as unproductive classes.
But as facts in the long run are stronger than definitions, it became necessary in some way to bring back these classes, and make them re-enter the circle of economic studies. They were introduced by way of analogy; but the language of the science, formed beforehand on other definitions, had been so materialized as to render this extension repulsive. What mean such phrases as these: “To consume an immaterial product? Man is accumulated capital? Security is a commodity?” etc., etc. [p154]
Not only was the language of the science materialized beyond measure, but writers were forced to surcharge it with subtile distinctions, in order to reconcile ideas which had been erroneously separated. Hence Adam Smith’s expression of Value in use, in contradistinction to Value in exchange, etc.
A greater evil still has been that, in consequence of this confusion of two great social phenomena, property and community, the one has seemed incapable of justification, and the other has been lost sight of.