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Updated: May 16, 2025
It is fixed by the labor time which is necessary for the procuring of the means of livelihood required to maintain the laborer in a condition to continue laboring and reproduce his kind. Let us suppose that these means of livelihood represent, taking one day with another, six hours labor-time a day.
In fact it would be mere bookkeeping to set off the products of equal labor against the products of equal labor, according to the natural measure of labor-time, taking the labor-hour as a unit if the labor hours are first translated into terms of money. Exchange is in reality only simple exchange; all surpluses are easily and simply equalized by means of bills of exchange on other societies.
I cannot therefore express this certain amount of labor-time in labor hours, since their number is not known to me, but I can express it relatively in terms of another commodity, which has the same amount of labor time incorporated in it. The clock is worth as much as the piece of cloth.
It serves merely as a labor certificate; it corresponds with the expression of Marx "only the share of the individual of the common labor, and his individual claim to the consumption of a certain portion of the common product" and in this function, says Herr Duehring, it is just as little money as a theater ticket. In short it functions in exchange like Owens "labor-time money."
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