the ultimate standard of value-第11章

按键盘上方向键 ← 或 → 可快速上下翻页，按键盘上的 Enter 键可回到本书目录页，按键盘上方向键 ↑ 可回到本页顶部！
————未阅读完？加入书签已便下次继续阅读！


d　we　must　say；　that　the　price　gravitate　toward　the　rate　of　eighty　cents；　because　the　rate　of　wages　which　obtains　throughout　the　whole　field　of　employment　is　eighty　cents。　In　other　words；　in　explaining　the　oscillating　motion　of　prices；　according　to　the　law　of　cost；　we　cannot　avoid　assuming　as　a　basis；　a　certain　average　or　normal　rate　of　wages　as　the　prevailing　rate　for　the　period　under　consideration。　　　　　　We　will　now　repeat　the　question　which　was　asked　in　the　beginning　of　this　chapter；　a　question　which　must　be　asked　if　our　explanation　is　to　maintain　a　logical　and　coherent　form：　Upon　what　does　this　average　or　normal　rate　of　wage；　prevailing　at　any　given　time；　depend？　　　　　　We　have　already　answered　this　question；　or　rather　Professor　Marshall　has　answered　it；　in　the　first　of　his　explanations　of　the　rate　wages　already　quoted。　In　this　he　has　declared；　and　we　must　perforce　agree　with　him；　that　the　price　of　a　day's　labor　depends　upon　the　value　of　the　pure　product　of　a　day's　labor。　Or　more　correctly；　upon　the　value　of　the　product　of　the　last　employed　laborer；　in　Professor　Marshall's　example　the　〃marginal　shepherds。〃（36*）　　　　　This　answer　brings　the　whole　doctrine　of　the　law　of　cost　to　its　final　test。　Upon　the　one　side；　this　analysis　of　cost　practically　abandons　the　attempt　to　show　that　disutility　is　the　essential　element　of　cost。　On　the　other　side；　the　expression　〃value　of　the　products　of　labor〃；　make　manifest　that　we　have　not　yet　obtained　the　ultimate　element；　and　that　the　analysis　must　be　continued　still　further。　Finally；　the　explanation　seems　even　more　than　before　to　continue　in　a　circle。　In　the　name　of　the　law　of　cost　we　explain　the　value　of　the　product　by　the　value　of　the　labor　expended　in　its　production；　and　then　explain　the　value　of　this　labor　by　the　value　of　the　product。　　　　　　There　is　manifestly　a　great　discrepancy　somewhere　in　this　explanation。　A　discrepancy　which　the　Austrian　economists　endeavor　to　avoid　by　a　special　interpretation　of　the　law　of　cost。（37*）　Their　efforts；　of　course；　will　not　receive　much　encouragement　from　those　writers　who　do　not　recognize　the　existence　of　this　discrepancy。　This　includes　the　great　majority　of　those　who　hold；　wittingly　or　unwittingly；　that　the　explanation　of　the　value　of　goods　in　accordance　with　the　law　of　cost　is　firmly　anchored　upon　the　elementary　factor；　〃disutility。〃　That　this　is　not　the　case；　I　have　endeavored　to　show；　and　I　will　now　attempt　to　bridge　the　gap　in　the　explanation　of　value；　which　my　investigation　has　revealed。　On　the　one　hand　it　is　held；　that　in　numerous　cases　the　price　of　the　product；　according　to　the　law　of　cost；　oscillate　about　some　normal　rate　of　wages；　which　rate　does　not　correspond　either　to　the〃　disutility〃　of　labor　or　the　cost　of　maintaining　the　laborer。　On　the　other　hand；　Professor　Marshall；　in　common　with　many　other　English　and　American　economists；　admits　that　the　normal　rate　of　wages　is　adjusted　according　to　the　value　of　the　product　of　the　last　employed　laborer。

VI。　What　the　Law　of　Cost　Really　Means。　Final　Result。

　　　　The　existing　productive　powers；　inclusive　of　the　most　original　and　important　of　all…labor…seek　employment　in　the　various　opportunities　for　production　that　present　themselves。　Naturally；　of　course；　they　first　engage　in　those　branches　of　production　that　are　most　profitable。　But　as　these　are　not　sufficient　to　give　employment　to　the　whole　productive　power；　some　of　this　power　must　engage　in　successively　less　productive　occupations；　until　finally　A　of　it　is　employed。　This　gradual　extension　to　less　probable　occupations　may　be　seen　in　the　production　at　one　and　the　same　time；　of　more　valuable　goods；　and　of　others；　which　from　the　very　beginning　were　less　valuable；　because　the　demand　for　them　was　less　urgent。　But　the　important　case　of　this　gradual　extension　to　less　profitable　employments　is　found　elsewhere。　In　any　branch　of　production　which　hitherto　has　been　very　profitable；　the　amount　produced　tends　to　increase。　Hence；　according　to　well　known　principles；　we　are　compelled　to　market　the　increased　product　at　a　diminished　price。　　　　　　The　demand　arranges　itself　in　strata　that　vary　with　the　desire　and　purchasing　power　of　the　consumers。　Let　us　assume　that　of　a　certain　kind　of　commodity；　thirty　thousand　pieces　are　produced　by　one　hundred　laborers　with　an　outlay　in　labor　of　one　day　out　of　the　three　hundred　working　days　in　the　year。　Let　us　further　assume　that　these　are　marketed　at　the　price　of　eighty　cents　each。　There　will　then　be　among　the　purchasers　possibly　one　thousand　to　whom　eight　dollars　per　piece　would　not　have　been　too　dear；　either　because　it　satisfied　some　pressing　want；　or　because　their　great　wealth　make　the　value　of　the　monetary　unit　exceptionally　low　in　their　estimation。　Then　come　perhaps；　five　thousand　more　purchasers　who；　in　case　it　is　necessary；　are　prepared　to　pay　two　dollars。　Another　six　thousand；　who；　in　an　extreme　case；　would　pay　one　dollar　and　sixty　cents。　Another　six　thousand　who　would　pay　only　one　dollar　and　twenty　cents。　Again；　another　six　thousand　who；　at　most；　will　pay　only　one　dollar；　and　finally；　the　last　six　thousand　who　are　prepared　to　pay　only　eighty　cents。　Below　these　come；　perhaps；　another　group　of　six　thousand　who　would　be　willing　to　pay　sixty　cents；　but　for　whom　the　prevailing　market　price　of　eighty　cents　is　too　high；　and　who；　therefore；　must　decline　to　purchase。　　　　　　Assuming　the　conditions　of　this　example；　a　product　of　thirty　thousand　piece　corresponds　to　a　market　price　of　eighty　cents。　But　manifestly；　if　the　productive　power　were　less；　if；　for　instance；　the　number　of　laborers　was　only　eighty　and　the　amount　produced　only　twenty…four　thousand　piece；　the　market　price　at　which　the　whole　product　would　be　sold　might　be　one　dollar。　It　is　equally　clear　that　with　one　hundred　and　twenty　laborers　and　a　product　of　thirty…six　thousand　piece；　the　market　price　might　not　exceed　sixty　cents。　In　other　words；　the　value　of　the　product　of　one　laborer　when　eighty　laborers　are　employed；　would　be　one　dollar；　when　one　hundred　are　employed；　eighty　cents；　and　when　one　hundred　and　twenty　are　employed；　sixty　cents。　In　the　same　way；　the　market　for　the　product　of　every　additional　laborer　above　one　hundred　and　twenty　must　be　found　at　a　still　lower　point　in　the　demand　scale。　Or　at　any　given　time　there　is　a　group　of　the　least　capable　or　willing　buyers　that　corresponds　to　the　last　employed　group　of　laborers。　The　valuation　of　this　group　of　buyers　determines；　in　the　first　instance；　the　value　of　the　product　of　the　last　group　of　workers；　and　through　this；　since　at　the　same　time　and　in　the　same　market；　there　can　be　but　one　price　for　the　same　product；　the　value　of　the　product　of　every　laborer　in　this　branch　of　production。（38*）　　　　　It　even　goes　further　than　this；　and　determine　the　wages　of　the　laborer。　On　the　one　side；　no　entrepreneur　will；　for　any　long　period；　pay　his　laborers　more　than　he　can　obtain　for　the　product　of　their　labor。　The　value　of　the　product　will；　therefore；　be　the　upper　limit　of　the　rate　of　wages。　Again；　under　conditions　of　free　competition；　he　will　not　for　any　long　time　pay　them　less；　for　so　long　as　the　market　price　is　in　excess　of　the　cost　of　production；（39*）　the　entrepreneur　obtains　a　profit；　but　he　or　his　competitors　will　be　tempted　by　this　to　increase