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precisely equal minus。



    Unhappily for the progress of the science of Political



Economy; the plus quantities; or;  if I may be allowed to coin



an awkward plural  the pluses; make a very positive and



venerable appearance in the world; so that every one is eager to



learn the science which produces results so magnificent; whereas



the minuses have; on the other hand; a tendency to retire into



back streets; and other places of shade;  or even to get



themselves wholly and finally put out of sight in graves: which



renders the algebra of this science peculiar; and difficultly



legible; a large number of its negative signs being written by



the account…keeper in a kind of red ink; which starvation thins;



and makes strangely pale; or even quite invisible ink; for the



present。



    The Science of Exchange; or; as I hear it has been proposed



to call it; of 〃Catallactics;〃 considered as one of gain; is;



therefore; simply nugatory; but considered as one of acquisition;



it is a very curious science; differing in its data and basis



from every other science known。 Thus:  if I can exchange a



needle with a savage for a diamond; my power of doing so depends



either on the savage's ignorance of social arrangements in



Europe; or on his want of power to take advantage of them; by



selling the diamond to any one else for more needles。 If;



farther; I make the bargain as completely advantageous to myself



as possible; by giving to the savage a needle with no eye in it



(reaching; thus a sufficiently satisfactory type of the perfect



operation of catallactic science); the advantage to me in the



entire transaction depends wholly upon the ignorance;



powerlessness; or heedlessness of the person dealt with。 Do away



with these; and catallactic advantage becomes impossible。 So far;



therefore; as the science of exchange relates to the advantage of



one of the exchanging persons only; it is founded on the



ignorance or incapacity of the opposite person。 Where these



vanish; it also vanishes。 It is therefore a science founded on



nescience; and an art founded on artlessness。 But all other



sciences and arts; except this; have for their object the doing



away with their opposite nescience and artlessness。 This science;



alone of sciences; must; by all available means; promulgate and



prolong its opposite nescience; otherwise the science itself is



impossible。 It is; therefore; peculiarly and alone the science of



darkness; probably a bastard science  not by any means a divina



scientia; but one begotten of another father; that father who;



advising his children to turn stones into bread; is himself



employed in turning bread into stones; and who; if you ask a fish



of him (fish not being producible on his estate); can but give



you a serpent。



    The general law; then; respecting just or economical



exchange; is simply this:  There must be advantage on both



sides (or if only advantage on one; at least no disadvantage on



the other) to the persons exchanging; and just payment for his



time; intelligence; and labour; to any intermediate person



effecting the transaction (commonly called a merchant); and



whatever advantage there is on either side; and whatever pay is



given to the intermediate person; should be thoroughly known to



all concerned。 All attempt at concealment implies some practice



of the opposite; or undivine science; founded on nescience。



Whence another saying of the Jew merchant's  〃As a nail between



the stone joints; so doth sin stick fast between buying and



selling。〃 Which peculiar riveting of stone and timber; in men's



dealings with each other; is again set forth in the house which



was to be destroyed  timber and stones together  when



Zechariah's roll (more probably 〃curved sword〃) flew over it:



〃the curse that goeth forth over all the earth upon every one



that stealeth and holdeth himself guiltless;〃 instantly followed



by the vision of the Great Measure;  the measure 〃of the



injustice of them in all the earth〃 (auti i adikia auton en pase



te ge); with the weight of lead for its lid; and the woman; the



spirit of wickedness; within it;  that is to say; Wickedness



hidden by Dulness; and formalized; outwardly; into ponderously



established cruelty。 〃 It shall be set upon its own base in the



land of Babel。〃 (23*)



    I have hitherto carefully restricted myself; in speaking of



exchange; to the use of the term 〃advantage〃; but that term



includes two ideas; the advantage; namely; of getting what we



need; and that of getting what we wish for。 Three…fourths of the



demands existing in the world are romantic; founded on visions;



idealisms; hopes; and affections; and the regulation of the purse



is; in its essence; regulation of the imagination and the heart。



Hence; the right discussion of the nature of price is a very high



metaphysical and psychical problem; sometimes to be solved only



in a passionate manner; as by David in his counting the price of



the water of the well by the gate of Bethlehem; but its first



conditions are the following:  The price of anything is the



quantity of labour given by the person desiring it; in order to



obtain possession of it。 This price depends on four variable



quantities。 A。 The quantity of wish the purchaser has for the



thing; opposed to a; the quantity of wish the seller has to keep



it。 B。 The quantity of labour the purchaser can afford; to obtain



the thing opposed to B; the quantity of labour the seller can



afford; to keep it。 These quantities are operative only in



excess; i。e。 the quantity of wish (A) means the quantity of wish



for this thing; above wish for other things; and the quantity of



work (B) means the quantity which can be spared to get this thing



from the quantity needed to get other things。



    Phenomena of price; therefore; are intensely complex;



curious; and interesting  too complex; however; to be examined



yet; every one of them; when traced far enough; showing itself at



last as a part of the bargain of the Poor of the Flock (or 〃flock



of slaughter〃); 〃If ye think good; give ME my price; and if not;



forbear〃 Zech。 xi。 12; but as the price of everything is to be



calculated finally in labour; it is necessary to define the



nature of that standard。



    Labour is the contest of the life of man with an opposite; 



the term 〃life〃 including his intellect; soul; and physical



power; contending with question; difficulty; trial; or material



force。



    Labour is of a higher or lower order; as it includes more or



fewer of the elements of life: and labour of good quality; in any



kind; includes always as much 
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