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62

Capitalist Production.

varies with every change in the productiveness of weaving or tailoring. We have now to consider the influence of such changes on the quantitative aspect of the relative expression of value.

I. Let the value of the linen vary,^[1] that of the coat remaining constant. If, say in consequence of the exhaustion of flax-growing soil, the labour time necessary for the production of the linen be doubled, the value of the linen will also be doubled. Instead of the equation, 20 yards of linen = 1 coat, we should have 20 yards of linen = 2 coats, since 1 coat would now contain only half the labour time embodied in 20 yards of linen. If, on the other hand, in consequence, say, of improved looms, this labour time be reduced by one half, the value of the linen would fall by one half. Consequently, we should have 20 yards of linen = $\scriptstyle {\frac {1}{2}}$ coat. The relative value of commodity A, i.e., its value expressed in commodity B, rises and falls directly as the value of A, the value of B being supposed constant.

II. Let the value of the linen remain constant, while the value of the coat varies. If, under these circumstances, in consequence, for instance, of a poor crop of wool, the labour time necessary for the production of a coat becomes doubled, we have instead of 20 yards of linen = 1 coat, 20 yards of linen = $\scriptstyle {\frac {1}{2}}$ coat. If, on the other hand, the value of the coat sinks by one half, then 20 yards of linen=2 coats. Hence, if the value of commodity A remain constant, its relative value expressed in commodity B rises and falls inversely as the value of B.

If we compare the different cases in I. and II., we see that the same change of magnitude in relative value may arise from totally opposite causes. Thus, the equation, 20 yards of linen = 1 coat, becomes 20 yards of linen = 2 coats, either, because, the value of the linen has doubled, or because the value of the coat has fallen by one half; and it becomes 20 yards of linen = $\scriptstyle {\frac {1}{2}}$ coat, either, because the value of the linen has fallen by one half, or because the value of the coat has doubled.

III. Let the quantities of labour time respectively neces-

↑ Value is here, as occasionally in the preceding pages, used in the sense of value determined as to quantity, or of magnitude of value.

[1] Value is here, as occasionally in the preceding pages, used in the sense of value determined as to quantity, or of magnitude of value.

[1]