Capital itself is the moving contradiction, in that it presses to reduce labour time to a minimum, while it posits labour time, on the other side, as sole measure and source of wealth. Remember that time is money. Hence it diminishes labour time in the necessary form so as to increase it in the superfluous form; hence posits the superfluous in growing measure as a condition – question of life or death – for the necessary. He that can earn ten shillings a day by his labour, and goes abroad, or sits idle one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent or rather thrown away five shillings besides. On the one side, then, it calls to life all the powers of science and of nature, as of social
Topics:
Sandwichman considers the following as important:
This could be interesting, too:
Matias Vernengo writes Elon Musk (& Vivek Ramaswamy) on hardship, because he knows so much about it
Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister
New Economics Foundation writes We need more than a tax on the super rich to deliver climate and economic justice
Robert Vienneau writes Profits Not Explained By Merit, Increased Risk, Increased Ability To Compete, Etc.
Capital itself is the moving contradiction, in that it presses to reduce labour time to a minimum, while it posits labour time, on the other side, as sole measure and source of wealth. Remember that time is money. Hence it diminishes labour time in the necessary form so as to increase it in the superfluous form; hence posits the superfluous in growing measure as a condition – question of life or death – for the necessary.
He that can earn ten shillings a day by his labour, and goes abroad, or sits idle one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent or rather thrown away five shillings besides. On the one side, then, it calls to life all the powers of science and of nature, as of social combination and of social intercourse, in order to make the creation of wealth independent (relatively) of the labour time employed on it. On the other side, it wants to use labour time as the measuring rod for the giant social forces thereby created, and to confine them within the limits required to maintain the already created value as value. In short, the way to wealth, if you desire it, is as plain as the way to market. It depends chiefly on two words, industry and frugality.
Waste neither time nor money, but make the best use of both. Forces of production and social relations – two different sides of the development of the social individual – appear to capital as mere means, and are merely means for it to produce on its limited foundation. In fact, however, they are the material conditions to blow this foundation sky-high.
Truly wealthy a nation, when the working day is 6 rather than 12 hours. He that gets all he can honestly, and saves all he gets (necessary expenses excepted) will certainly become rich; if that being who governs the world, to whom all should look for a blessing on their honest endeavors, doth not in his wise providence otherwise determine. Without industry and frugality nothing will do, and with them everything. Wealth is not command over surplus labour time (real wealth), but rather, disposable time outside that needed in direct production, for every individual and the whole society.