The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-12-02

share of the landlord), interest (the
share Of the fnance-capitalist or bank
err, and commercial or industrial pro
fit Cthe share Of the immediate en-
ployer).
2. There is no such thing as value
Of land" in the MARKHAM sense Of the
term. Land has a price not by virtue
of any value inhering in it, but be-
cause its monopoly enables the hold
err to demand and receive share Of
the values created by labor applied to
the land improvements placed in or
upon land by labor. whether in the
form Of buildings, artificial manuring,
drainage, ETC., does have value, just
as all other products of labor, but
the value inheres in the improvements
and not in the land.
3. Rent, interest, and profit, all
have common source, coming alike
from surplus value, of which they are
subdivisions arrived at between the
capitalists.
A. For the worker, the most i'm
portant relationship is that which he
holds to the employing capitalist; be-
cause it is the employer who expropri
ates the surplus value Of the labor Of
the worker, and is in the struggle with
the employer that the worker finds
the rate of exploitation established.
5. A rate of profit, figured on the
basis of the amount of capital advanc-
ed in wages, gives the rate of exploit
alton Of labor; that is, if the profit is
$500, on commodities for which the la
Dor to produce received a wage Of
| $500, then the rate of exploitation is
100 per cent; on the other hand, when
the capitalist figures his profits upon
the basis of the total capital employed,
adding to the wages of $500, the
amount of $4,000 for raw material,
then the rate Of profit is only 20 per
cent. The amount of profit is the
same; the 100 per cent expresses the
relation to the wages of the worker,
the 20 per cent is the relation to the
total capital employed
8. From the foregoing 1t is seen
that the ordinary capitalist method Of
basing profit rates upon total capital,
hides and obscures the actual rate Of
exploitation OF labor.
z. When, from the present value of
commodity is deducted the value of
the raw materials used in its produc-
ton. what remains the value added to
the commodity by its immediate pro
duction. This is the total available
value that can be distributed, on the
one hand TO the worker in wages, and
on the other hand to the capitalists in
rent, interest, and profits.
8. II follows from the foregoing
that the value OF commodities Is not
affected in any way by any changes
in the division OF this value between
workers and capitalists, or between
the various capitalists themselves.
Q. Specifically, a change in wages
cannot change the value of a>commo-
dity, but IL viii affect a change in the
rate Of profit. A change in profit will
not affect a change in the value OF
commodity, but 1t will affect wages.
10. Neither increased profits, nor
increased wages, will affect the prices
Of commodities, aside from temporary
fluctuations; what raises or lowers
prices is either (a) an increase or de-
crease In the amount OF socially nee
essary labor-time for their production:
or (b) a change In the value Of money
brought about by an increase or dc
crease In the socially necessary labor
lime embodied In the currency.