ably and as commodities tend to exchange at their values, gold buys fewer commodities.
We may still be receiving the same number of dollars each week, but the value of these dollars has decreased. Actually our wages have been reduced. Unless they enable us to buy the necessities of life we are not receiving the value of our labor-power from our employers.
1. An increase in the prices of the necessities of life may come from an increase in the value of commodities. We shall have to receive an equal rise in wages if we are to get the value of our labor-power.
2. Wages (or gold) may decrease in value until they no longer will purchase A. Unless we receive more wages accordingly we will be receiving less than the value of our labor-power.
Monopoly Prices.
Now all through the preceding chapters I could hear, in imagination, the reformers crying, "But what about monopoly prices?"
In the first place, there never was an absolute, permanent monopoly. There are steel mills in China, Japan, Mexico, England and Germany which will supply the American market if they can undersell the home product. China is now shipping steel rails into California at a lower price than the American mills supply them.
There are still many independent oil companies in many lands. Automobile service, electric car lines,
