But I should blush, with so earnest a man, to prolong such badinage.M.
Rossi knows better than any one that analysis and synthesis of themselves prove absolutely nothing, and that the important work, as Bacon said, is to make exact comparisons and complete enumerations.
Since M.Rossi was in the humor for abstractions, why did he not say to the phalanx of economists who listen so respectfully to the least word that falls from his lips:
"Capital is the material of wealth, as gold and silver are the material of money, as wheat is the material of bread, and, tracing the series back to the end, as earth, water, fire, and air are the material of all our products.But it is labor, labor alone, which successively creates each utility given to these materials, and which consequently transforms them into capital and wealth.Capital is the result of labor, -- that is, realized intelligence and life, -- as animals and plants are realizations of the soul of the universe, and as the chefs d'oeuvre of Homer, Raphael, and Rossini are expressions of their ideas and sentiments.Value is the proportion in which all the realizations of the human soul must balance each other in order to produce a harmonious whole, which, being wealth, gives us well-being, or rather is the token, not the object, of our happiness.
"The proposition, there is no measure of value, is illogical and contradictory, as is shown by the very arguments which have been offered in its support.
"The proposition, labor is the principle of proportionality of values, not only is true, resulting as it does from an irrefutable analysis, but it is the object of progress, the condition and form of social well- being, the beginning and end of political economy.From this proposition and its corollaries, every product is worth what it costs, and products are bought with products, follows the dogma of equality of conditions.
"The idea of value socially constituted, or of proportionality of values, serves to explain further: (a) how a mechanical invention, notwithstanding the privilege which it temporarily creates and the disturbances which it occasions, always produces in the end a general amelioration; (b) how the value of an economical process to its discoverer can never equal the profit which it realizes for society; (c) how, by a series of oscillations between supply and demand, the value of every product constantly seeks a level with cost and with the needs of consumption, and consequently tends to establish itself in a fixed and positive manner; (d) how, collective production continually increasing the amount of consumable things, and the day's work constantly obtaining higher and higher pay, labor must leave an excess for each producer; (e) how the amount of work to be done, instead of being diminished by industrial progress, ever increases in both quantity and quality -- that is, in intensity and difficulty -- in all branches of industry;
(f) how social value continually eliminates fictitious values, -- in other words, how industry effects the socialization of capital and property;
