X. For once, Phædrus, I am not sorry to hear you using a phrase which in general is hateful to my ears. "A mere dispute about words" is a phrase which we hear daily; and why? Is it a case of such daily occurrence to hear men disputing about mere verbal differences? So far from it, I can truly say that I never happened to witness such a dispute in my whole life, either in books or in conversation; and indeed, considering the small number of absolute synonymes which any language contains, it is scarcely possible that a dispute on words should arise which would not also be a dispute about ideas (that is, about realities). Why, then, is the phrase in every man's mouth, when the actual occurrence must be so very uncommon? The reason is this, Phædrus: such a plea is a "sophisma pigri intellectus," which seeks to escape from the effort of mind necessary for the comprehending and solving of any difficulty under the colorable pretext that it is a question about shadows, and not about substances, and one therefore which it is creditable to a man's good sense to decline; a pleasant sophism this, which at the same time flatters a man's indolence and his vanity. For once, however, I repeat that I am not sorry to hear such a phrase in your mouth, Phædrus: I have heard it from you before; and I will frankly tell you that you ought to be ashamed of such a plea, which is becoming to a slothful intellect, but very unbecoming to yours. On this account, it gives me pleasure that you have at length urged it in a case where you will be obliged to abandon it. If that should happen, remember what I have said; and resolve never more to shrink effeminately from the toil of an intellectual discussion under any pretence that it is a verbal dispute. In the present case, I shall drive you out of that conceit in less time than it cost you to bring it forward. For now, Phædrus, answer me to one or two little questions which I will put. You fancy that between the expressions "quantity of producing labor" and "value of producing labor" there is none but a verbal difference. It follows, therefore, that the same effect ought to take place whether the value of the producing labor be altered or its quantity.

Phæd. It does.

X. For instance, the production of a hat such as mine has hitherto cost (we will suppose) four days' labor, at three shillings a day: now, without any change whatsoever in the quantity of labor required for its production, let this labor suddenly increase in value by twenty-five per cent. In this case, four days' labor will produce a hat as heretofore; but the value of the producing labor being now raised from three shillings a day to three shillings and nine pence, the value of the total labor necessary for the production of a hat will now be raised from twelve shillings to fifteen shillings. Thus far, you can have nothing to object?

Phæd. Nothing at all, X. But what next?

X. Next, let us suppose a case in which the labor of producing hats shall increase, not in value (as in the preceding case), but in quantity. Labor is still at its old value of three shillings a day; but, from increased difficulty in any part of the process, five days' labor are now spent on the production of a hat instead of four. In this second case, Phædrus, how much will be paid to the laborer?

Phæd. Precisely as much as in the first case: that is, fifteen shillings.

X. True: the laborer on hats receives fifteen shillings in the second case as well as in the first; but in the first case for four days' labor, in the second for five: consequently, in the second case, wages (or the value of labor) have not risen at all, whereas in the first case wages have risen by twenty-five per cent.

Phæd. Doubtless: but what is your inference?

X. My inference is as follows: according to yourself and Adam Smith, and all those who overlook the momentous difference between the quantity and the value of labor, fancying that these are mere varieties of expression for the same thing, the price of hats ought, in the two cases stated, to be equally raised, namely, three shillings in each case. If, then, it be utterly untrue that the price of hats would be equally raised in the two cases, it will follow that an alteration in the value of the producing labor, and an alteration in its quantity, must terminate in a very different result; and, consequently, the one alteration cannot be the same as the other, as you insisted.

Phæd. Doubtless.