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are only worth as much as one was before, although in both cases one coat renders the same
service as before, and the useful labour embodied in it remains of the same quality. But the
quantity of labour spent on its production has altered.
An increase in the quantity of use values is an increase of material wealth. With two coats two
men can be clothed, with one coat only one man. Nevertheless, an increased quantity of material
wealth may correspond to a simultaneous fall in the magnitude of its value. This antagonistic
movement has its origin in the two-fold character of labour. Productive power has reference, of
course, only to labour of some useful concrete form, the efficacy of any special productive
activity during a given time being dependent on its productiveness. Useful labour becomes,
therefore, a more or less abundant source of products, in proportion to the rise or fall of its
productiveness. On the other hand, no change in this productiveness affects the labour
represented by value. Since productive power is an attribute of the concrete useful forms of
labour, of course it can no longer have any bearing on that labour, so soon as we make abstraction
from those concrete useful forms. However then productive power may vary, the same labour,
exercised during equal periods of time, always yields equal amounts of value. But it will yield,
during equal periods of time, different quantities of values in use; more, if the productive power
rise, fewer, if it fall. The same change in productive power, which increases the fruitfulness of
labour, and, in consequence, the quantity of use values produced by that labour, will diminish the
total value of this increased quantity of use values, provided such change shorten the total labour
time necessary for their production; and vice versâ.
On the one hand all labour is, speaking physiologically, an expenditure of human labour power,
and in its character of identical abstract human labour, it creates and forms the value of
commodities. On the other hand, all labour is the expenditure of human labour power in a special
form and with a definite aim, and in this, its character of concrete useful labour, it produces use
values.
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Section 3: The Form of Value or Exchange-Value
Commodities come into the world in the shape of use values, articles, or goods, such as iron,
linen, corn, &c. This is their plain, homely, bodily form. They are, however, commodities, only
because they are something two-fold, both objects of utility, and, at the same time, depositories of
value. They manifest themselves therefore as commodities, or have the form of commodities,
only in so far as they have two forms, a physical or natural form, and a value form.
The reality of the value of commodities differs in this respect from Dame Quickly, that we don’t
know “where to have it.” The value of commodities is the very opposite of the coarse materiality
of their substance, not an atom of matter enters into its composition. Turn and examine a single
commodity, by itself, as we will, yet in so far as it remains an object of value, it seems impossible
to grasp it. If, however, we bear in mind that the value of commodities has a purely social reality,
and that they acquire this reality only in so far as they are expressions or embodiments of one
identical social substance, viz., human labour, it follows as a matter of course, that value can only
manifest itself in the social relation of commodity to commodity. In fact we started from
exchange value, or the exchange relation of commodities, in order to get at the value that lies
hidden behind it. We must now return to this form under which value first appeared to us.
Every one knows, if he knows nothing else, that commodities have a value form common to them
all, and presenting a marked contrast with the varied bodily forms of their use values. I mean their
money form. Here, however, a task is set us, the performance of which has never yet even been
attempted by bourgeois economy, the task of tracing the genesis of this money form, of
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developing the expression of value implied in the value relation of commodities, from its
simplest, almost imperceptible outline, to the dazzling money-form. By doing this we shall, at the
same time, solve the riddle presented by money.
The simplest value-relation is evidently that of one commodity to some one other commodity of a
different kind. Hence the relation between the values of two commodities supplies us with the
simplest expression of the value of a single commodity.
A. Elementary or Accidental Form Of Value
x commodity A = y commodity B, or
x commodity A is worth y commodity B.
20 yards of linen = 1 coat, or
20 Yards of linen are worth 1 coat.
1. The two poles of the expression of value. Relative form and Equivalent
form
The whole mystery of the form of value lies hidden in this elementary form. Its analysis,
therefore, is our real difficulty.
Here two different kinds of commodities (in our example the linen and the coat), evidently play
two different parts. The linen expresses its value in the coat; the coat serves as the material in
which that value is expressed. The former plays an active, the latter a passive, part. The value of
the linen is represented as relative value, or appears in relative form. The coat officiates as
equivalent, or appears in equivalent form.
The relative form and the equivalent form are two intimately connected, mutually dependent and
inseparable elements of the expression of value; but, at the same time, are mutually exclusive,
antagonistic extremes – i.e., poles of the same expression. They are allotted respectively to the
two different commodities brought into relation by that expression. It is not possible to express
the value of linen in linen. 20 yards of linen = 20 yards of linen is no expression of value. On the
contrary, such an equation merely says that 20 yards of linen are nothing else than 20 yards of
linen, a definite quantity of the use value linen. The value of the linen can therefore be expressed
only relatively – i.e., in some other commodity. The relative form of the value of the linen
presupposes, therefore, the presence of some other commodity – here the coat – under the form of
an equivalent. On the other hand, the commodity that figures as the equivalent cannot at the same
time assume the relative form. That second commodity is not the one whose value is expressed.
Its function is merely to serve as the material in which the value of the first commodity is
expressed.
No doubt, the expression 20 yards of linen = 1 coat, or 20 yards of linen are worth 1 coat, implies
the opposite relation. 1 coat = 20 yards of linen, or 1 coat is worth 20 yards of linen. But, in that
case, I must reverse the equation, in order to express the value of the coat relatively; and so soon
as I do that the linen becomes the equivalent instead of the coat. A single commodity cannot,
therefore, simultaneously assume, in the same expression of value, both forms. The very polarity
of these forms makes them mutually exclusive.
Whether, then, a commodity assumes the relative form, or the opposite equivalent form, depends
entirely upon its accidental position in the expression of value – that is, upon whether it is the
commodity whose value is being expressed or the commodity in which value is being expressed.
2. The Relative Form of value
(a.) The nature and import of this form