Page:Shop Talks on Economics.djvu/20

 their deviations from values, their ups and downs, paralyze and compensate each other; so that, apart from the effect of monopolies and some other modifications I must now pass by, all descriptions of commodities are, on the average, sold at their respective values or natural prices…

"If, speaking broadly, and embracing somewhat longer periods, all descriptions of commodities sell at their respective values, it is nonsense to suppose that profit, not in individual cases, but the constant and usual profits of different trades, spring from the prices of commodities, or selling them at a price over and above their value.

"To explain the general nature of profits, you must start from the theorem that, on an average, commodities are sold at their real values, and that profits are derived from selling them at their values, that is in proportion to the quantity of labor realized (or contained) in them.

"If you cannot explain profit upon this supposition, you cannot explain it at all." (From Value, Price and Profit, pages 68, 69 and 70.)

Why does skilled labor-power sell (or exchange) at a higher price (for more gold) than unskilled labor? Does the fact that it requires more LABOR to produce a skilled laborer, that it takes more years of feeding, clothing and shelter to PREPARD a skilled workman, have anything to do with the VALUE of their labor-power?

Mining experts tell us that it takes much less labor-power to produce the commodity—gold, than it did a few years ago.