the market-price of labour and its-so-called value, with the relation of this value to the rate of profit, and to the values of the commodities produced by means of labour, &c., they never discovered that the course of the analysis had led not only from the market prices of labour to its presumed value, but had led to the resolution of this value of labour itself into the value of labour-power. Classical economy never arrived at a consciousness of the results of its own analysis; it accepted uncritically the categories "value of labour," "natural price of labour," &c., as final and as adequate expressions for the value-relation under consideration, and was thus led, as will be seen later, into inextricable confusion and contradiction, while it offered to the vulgar economists a secure basis of operations for their shallowness, which on principle worships appearances only.

Let us next see how value (and price) of labour-power, present themselves in this transformed condition as wages.

We know that the daily value of labour-power is calculated upon a certain length of the labourer's life, to which, again, corresponds a certain length of working-day. Assume the habitual working-day as 12 hours, the daily value of labourpower as 3s., the expression in money of a value that embodies 6 hours of labour. If the labourer receives 3s., then he receives the value of his labour-power functioning through 12 hours. If, now, this value of a day's labour-power is expressed as the value of a day's labour itself, we have the formula: Twelve hours' labour has a value of 3s. The value of labour-power thus determines the value of labour, or, expressed in money, its necessary price. If, on the other hand, the price of labour-power differs from its value, in like manner the price of labour differs from its so-called value.

As the value of labour is only an irrational expression for the value of labour-power, it follows, of course, that the value of labour must always be less than the value it produces, for the capitalist always makes labour-power work longer than is necessary for the reproduction of its own value. In the above xample, the value of the labour-power that functions through 12 hours is 3s., a value for the reproduction of which 6 hours

are required. The value which the labour-power produces is, on the other hand, 6s., because it, in fact, functions during 12 hours, and the value it produces depends, not on its own value, but on the length of time it is in action. Thus, we have a result absurd at first sight-that labour which creates a value of 6s. possesses a value of 3s.1

We see, further: The value of 3s. by which a part only of the working day-i.e., 6 hours' labour-is paid for, appears as the value or price of the whole working-day of 12 hours, which thus includes 6 hours unpaid for. The wage-form thus extinguishes every trace of the division of the working-day into necessary labour and surplus-labour, into paid and unpaid labour. All labour appears as paid labour. In the corvée, the labour of the worker for himself, and his compulsory labour for his lord, differ in space and time in the clearest possible way. In slave-labour, even that part of the working-day in which the slave is only replacing the value of his own means of existence, in which, therefore, in fact, he works for himself alone, appears as labour for his master. All the slave's labour appears as unpaid labour.2 In wagelabour, on the contrary, even surplus labour, or unpaid labour, appears as paid. There the property-relation conceals the labour of the slave for himself; here the money-relation conceals the unrequited labour of the wage-labourer.

Hence, we may understand the decisive importance of the transformation of value and price of labour-power into the form of wages, or into the value and price of labour itself. This phenomenal form, which makes the actual relation invisible, and, indeed, shows the direct opposite of that relation, forms the basis of all the juridicial notions of both labourer and capitalist, of all the mystifications of the capitalistic mode of

1 Cf. Zur Kritik der Politischen Ekonomie, p. 40, where I state that, in the por tion of that work that deals with Capital, this problem will be solved: "How does production, on the basis of exchange-value determined simply by labour-time, lead to the result that the exchange-value of labour is less than the exchange-value of its product?"

The "Morning Star," a London free-trade organ, naif to silliness, protested again and again during the American civil war, with all the moral indignation of which man is capable, that the negro in the "Confederate States" worked absolutely for nothing. It should have compared the daily cost of such a negro with that of the free workman in the East end of London.

production, of all its illusions as to liberty, of all the apologetic shifts of the vulgar economists.

If history took a long time to get at the bottom of the mystery of wages, nothing, on the other hand, is more easy to understand than the necessity, the raison d'être, of this phenomenon.

The exchange between capital and labour at first presents itself to the mind in the same guise as the buying and selling of all other commodities. The buyer gives a certain sum of money, the seller an article of a nature different from money. The jurist's consciousness recognises in this, at most, a material difference, expressed in the juridically equivalent formalæ: "Do ut des, do ut facias, facio ut des, facio ut facias."

Further. Exchange-value and use-value, being intrinsically incommensurable magnitudes, the expressions "value of labour," "price of labour," do not seem more irrational than the expressions "value of cotton," "price of cotton." Moreover, the labourer is paid after he has given his labour. In its function of means of payment, money realises subsequently the value or price of the article supplied-i.e., in this particular case, the value or price of the labour supplied. Finally, the use-value supplied by the labourer to the capitalist is not, in fact, his labour-power, but its function, some definite useful labour, the work of tailoring, shoemaking, spinning, &c. That this same labour is, on the other hand, the universal value-creating element, and thus possesses a property by which it differs from all other commodities, is beyond the cognisance of the ordinary mind.

Let us put ourselves in the place of the labourer who receives for 12 hours' labour, say the value produced by 6 hours' labour, say 3s. For him, in fact, his 12 hours' labour is the means of buying the 3s. The value of his labourpower may vary, with the value of his usual means of subsistence, from 3 to 4 shillings, or from 3 to 2 shillings; or, if the value of his labour-power remains constant, its price may, in consequence of changing relations of demand and supply, rise to 4s. or fall to 2s. He always gives 12 hours of labour. Every change in the amount of the equivalent that he receives

appears to him, therefore, necessarily as a change in the value or price of his 12 hours' work. This circumstance misled Adam Smith, who treated the working-day as a constant quantity,1 to the assertion that the value of labour is constant, although the value of the means of subsistence may vary, and the same working-day, therefore, may represent itself in more, or less money for the labourer.

Let us consider, on the other hand, the capitalist. He wishes to receive as much labour as possible for as little money as possible. Practically, therefore, the only thing that interests him is the difference between the price of labourpower and the value which its function creates. But, then, he tries to buy all commodities as cheaply as possible, and always accounts for his profit by simple cheating, by buying under, and selling over the value. Hence, he never comes to see that, if such a thing as the value of labour really existed, and be really paid this value no capital would exist, his money would not be turned into capital.

Moreover, the actual movement of wages presents phenomena which seem to prove that not the value of labourpower is paid, but the value of its function, of labour itself. We may reduce these phenomena to two great classes: (1.) Change of wages with the changing length of the workingday. One might as well conclude that not the value of a machine is paid, but that of its working, because it costs more to hire a machine for a week than for a day. (2.) The individual difference in the wages of different labourers who do the same kind of work. We find this individual difference, but are not deceived by it, in the system of slavery, where, frankly and openly, without any circumlocution, labour-power itself is sold. Only, in the slave system, the advantage of a labour-power above the average, and the disadvantage of a labour-power below the average, affects the slave-owner; in the wage-labour system it affects the labourer himself, because his labour-power is, in the one case, sold by himself, in the other, by a third person.

1 Adam Smith only accidentally alludes to the variation of the working-day wher he is referring to piece-wages.

For the rest, in respect to the phenomenal form, "value and price of labour," or "wages," as contrasted with the essential relation manifested therein, viz., the value and price of labourpower, the same difference holds that holds in respect to all phenomena and their hidden substratum. The former appear directly and spontaneously as current modes of thought; the latter must first be discovered by science. Classical political economy nearly touches the true relation of things, without, however, consciously formulating it. This it cannot so long as it sticks in its bourgeois skin.

CHAPTER XX.

TIME-WAGES.

WAGES themselves again take many forms, a fact not recog nizable in the ordinary economical treatises which, exclusively interested in the material side of the question, neglect every difference of form. An exposition of all these forms however, belongs to the special study of wage-labour, not therefore to this work. Still the two fundamental forms must be briefly worked out here.

The sale of labour-power, as will be remembered, takes place for a definite period of time. The converted form under which the daily, weekly, &c., value of labour-power presents itself, is hence that of time-wages, therefore day-wages, &c.

Next it is to be noted that the laws set forth, in the 17th chapter, on the changes in the relative magnitudes of price of labour-power and surplus-value, pass by a simple transformation of form, into laws of wages. Similarly the distinction between the exchange-value of labour-power, and the sum of the necessaries of life into which this value is converted, now reappears as the distinction between nominal and real wages. It would be useless to repeat here, with regard to the phenomenal form, what has been already worked out in the sub