the ultimate standard of value-第12章

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*）　the　entrepreneur　obtains　a　profit；　but　he　or　his　competitors　will　be　tempted　by　this　to　increase　their　production；　and　so　to　employ　more　laborers；　until　the　difference　between　the　valuation　of　the　last　buyer　and　the　wages　of　the　last　laborer　disappears。　　　　　　The　same　forces；　which；　in　every　branch　of　production；　tend　to　fill　the　gap　between　the　value　of　the　product　of　the　last　employed　laborer；　and　the　rate　of　pay　in　this　branch　of　production；　tend　also　to　fill　another　gap。　Under　conditions　of　perfectly　free　competition；　there　cannot；　in　the　long　run；　be　any　serious　difference　in　prices　or　wages　in　those　branches　of　production；　that　are　in　free　communication　with　one　another。　In　the　long　run；　the　product　of　a　day's　labor　and　the　labor　itself　cannot　have　a　value　of　one　dollar　and　twenty　cents　in　the　woolen　industry；　for　instance；　and　only　forty　cents　in　the　cotton　industry。　This　would　immediately　give　rise　to　a　tendency　in　the　productive　forces　to　change　their　occupation；　a　tendency　which　would　continue　to　operate　until　both　of　these　branches　of　production；　together　with　all　others　in　communication　with　them；　had　been　brought　into　a　condition　of　equilibrium。　　　　　　But　where　will　this　point　of　equilibrium　be？　This　must　be　decided　within　that　general　field　of　employment　which　include　all　the　freely　communicating　branches　of　production；　and　it　must　be　decided　upon　the　same　grounds　or　reasons　which　we　have　found　to　be　effective　for　a　single　branch　of　production。　There　is　a　total　or　aggregate　demand　for　all　the　products　of　labor。　This　is　as　limitless　as　our　desire　for　well　being；　for　enjoyment　or　for　the　possession　of　goods；　and　is　graduated　according　to　the　intensity　of　this　desire。　If　our　desire　for　any　product　is　very　intense；　and　our　means　of　payment　abundant；　then　to　us　the　marginal　utility　of　the　product　will　be　high；　while　the　marginal　utility　of　money　will　be　low。　In　other　words；　we　will　be　willing　to　pay　a　higher　price　for　this　product　than　we　would　if　our　desire　for　it　or　our　ability　to　pay　for　it　were　less。　Hence；　in　the　general；　as　in　any　special　field　of　production；　there　may　be　several　strata　of　demand。　There　may　be　one　which　in　an　extreme　case　would　be　willing　to　pay　eight　dollars　for　the　product　of　a　day's　labor。　Another　might　be　willing　to　give　two　dollars；　while　others　would　find　their　limit　at　one　dollar　and　sixty　cents；　one　dollar　and　twenty　cents；　at　one　dollar；　and　at　eighty　cents。　There　may　remain　still　others　who　desire　to　purchase；　but　whose　wants　are　not　sufficiently　pressing　or　whose　purchasing　power　is　so　limited　that　they　either　will　not　or　cannot　pay　more　than　fifty；　forty　or　twenty　cents；　and　even　less；　for　the　satisfaction　of　that　want　to　which　the　product　of　a　day's　labor　would　be　devoted。　　　　　　To　meet　this　practically　unlimited　demand　we　have　a　labor　power　which　in　comparison　with　this　demand　is　always　limited。　It　is　never　sufficient　to　satisfy　all　our　desire；　if　it　was　we　would　be　in　paradise；　we　must；　therefore；　always　choose　which　of　our　desires　we　will　gratify。　Under　the　influence　of　self…interest　we　will　satisfy　them　according　to　the　height　or　amount　of　the　fee　which　we　are　willing　to　pay　for　their　satisfaction。　That　stratum　of　the　demand　which　is　prepared　to　pay　eight　dollars　for　a　day's　labor　will　not　suffer　any　inconvenience　for　lack　of　the　desired　commodity。　So；　too；　that　stratum　of　the　demand　which　is　willing　to　pay　two　dollars　will　not　suffer　any　inconvenience。　Nor　will　those　suffer　that　are　prepared　to　pay　one　dollar　and　sixty　cents；　one　dollar　and　twenty　cents；　one　dollar；　etc。　But　the　point　must　finally　be　reached　where　such　satisfaction　cannot　be　obtained。　This　point　will；　of　course；　vary　with　the　circumstance　or　conditions　of　particular　lands　or　time。　Here　eighty　cents；　there　sixty　cents；　and　elsewhere　forty　or　even　twenty　cents；　but　such　a　point　will　always　and　everywhere　be　found。　Let　us　assume　a　concrete　case　in　which　this　point　is　at　eighty　cents。　The　existing　productive　power　is　here　fully　employed　in　the　satisfying　of　those　wants；　for　whose　satisfaction　we　are　willing　and　able　to　pay　eighty　cents　for　a　day　of　common　labor。　In　this　case　the　stratum　of　the　demand　whose　valuation　is　eighty　cents　is　the　last　stratum　for　the　satisfaction　of　whose　desire　the　last　laborer　is　active。（40*）　it　is　the　valuation　of　this　stratum　which　determine　both　the　value　of　the　product　and　the　wages　of　labor。　All　those　desires　for　whose　satisfaction　we　are　either　unwilling　or　unable　to　pay　at　least　eighty　cents　must　remain　unsatisfied。　This　on　the　one　hand　will　affect　some　of　the　unimportant　needs　or　desires　of　the　well…to…do　class；　on　the　other；　alas；　it　will　affect　many　of　the　more　important　needs　of　those　whose　means　are　limited；　whose　entire　purchasing　power　has　been　exhausted　in　prodding　for　still　more　pressing　wants。　　　　　　Let　us　now　assume　that；　under　otherwise　unchanged　conditions；　there　is　an　increase　in　the　number　of　laborers　entering　into　the　problem；　say　through　the　sudden　abolition　of　the　standing　army；　or　through　a　great　influx　of　laborers　from　other　lands。　The　additional　laborers　must　and　will　find　employment　in　providing　for　a　still　lower　and　hitherto　unsatisfied　stratum　of　the　demand；　that　stratum；　for　instance；　whose　valuation　is　only　seventy　cents。　This　stratum　is　now　the　lowest　for　which　the　last　laborer　is　active；　and　its　valuation　determines　both　the　value　of　the　product　and　the　wages　of　labor。（41*）　　　　　What；　under　these　conditions　（the　statement　of　which　I　hope　will　meet　the　approval　of　my　honored　English　and　American　colleagues）；　is　the　role　played　by　the　law　of　costs？　An　exceedingly　simple　one。　It　guarantees　that　the　existing　productive　power　shall　be　directed　to　the　satisfaction　of　the　existing　needs；　according　to　the　height　of　the　fee　which　they　are　able　and　willing　to　pay。　It　brings　about　for　the　productive　power　in　an　indirect　way；　just　what　occurs　in　the　case　of　the　finished　product　in　a　direct　way；　upon　every　open　market　the　supply　of　the　finished　product　goes　as　far　as　it　will　reach　to　the　best　paying　of　those　who　desire　to　purchase。　The　market　price　of　the　same　ware；　on　the　same　market；　at　the　same　time；　is　uniform。　This　fixes；　very　clearly　and　definitely；　the　boundary　between　those　who　are　willing　and　able　to　purchase　at　that　price；　and　those　who　are　willing　to　do　so　but　not　able。　If；　for　instance；　the　market　price　is　eighty　cents；　then　all　those　to　whom　the　money　marginal　utility　（Geldgrenznutzen）　of　the　commodity　is　eighty　cents；　or　more；　will　provide　themselves　with　the　commodity；　all　those　to　whom　the　money　marginal　utility　of　the　commodity　is　less　than　eighty　cents　must　deny　themselves　this　commodity。　No　one　will　intentionally　reduce　the　price　of　his　commodity；　to　those　who　are　willing　and　able　to　pay　one　dollar　and　twenty　cents；　in　order　to　favor　those　who　will　or　can　pay　only　forty　cents。　　　　　　This　same　function　is　performed　for　the　productive　power　by　the　law　of　cost。　The　latter　does　not　meet　the　consumers　and　their　needs　directly；　it　does　not　come　in　contact　with　them　upon　a　common　market；　but　it　reaches　the　public　through　the　money　price　which　the　public　puts　upon　the　finished　product。　This　competition　（Werben）　is　extended　over　as　many　parts　of　the　general　marke