Page:Contribution to the Critique of Political Economy, A - Karl Marx.djvu/62

Rh of certain social relations of production into which the individuals enter in this interchange of matter. As they develop, the mutual relations of commodities crystalize into various aspects of the universal equivalent and thus the process of exchange becomes at the same time the process of the formation of money. The whole of this process which takes the form of a succession of processes, constitutes circulation. 

The analysis of commodities according to their twofold aspect of use-value and exchange value by which the former is reduced to work or deliberate productive activity; and the latter, to labor time or homogeneous social labor, is the result of a century and a half of critical study by the classical school of political economy which dates from William Petty in England and Boisguillebert in France and closes with Ricardo in the former country and Sismondi in the latter.

reduces use-value to labor, without deceiving himself as to the natural limitation of its creative