the ultimate standard of value-第5部分
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ctly or indirectly； must equal the value of the product； （we here ignore all payments for abstinence）。 How high will the value of both product and labor go？ We would again answer； to the point at which marginal utility and marginal disutility coincide。 Here； however； a new element enters into the problem。 We have to consider； not only the marginal utility which the wages have for the laborer； but also the marginal utility which the product of labor has for the general public or for the consumer。 Every consumer continue to buy so long as the marginal utility of the ware exceeds the price sacrifice。 Since the marginal utility decreases as the supply increase； an increase in the amount produced cannot find a market except at a lower price。 When； for instance； thirty million piece of a product； each of which cost one…quarter hour's labor； will find purchasers at a price of seven and one…half cents； thirty…five million pieces will perhaps bring only six cents each； thirty…eight million only five cents； forty…two million only four cents； while fifty million might only find buyers at two or at one and one…half cents。 On the other hand； the amount that will be produced will depend； ceteris paribus； upon the length of the working day。 But this again； as we have seen； depends in part upon the rate of wages； or upon the amount which the laborer will receive for an additional quarter hour of work。 With a wages of two and one…half cents per quarter hour； every worker； according to the figures of a previous example； would be willing to work thirty quarter hours per day： with a wages of five cents per quarter hour； they would work thirty…eight quarter hours； with a wages of seven and one…half cents per quarter hour； they would work forty…two quarter hours。 If the number of workers be taken as a million； then with a wages of two and one…half cents per quarter hour； they will produce thirty million piece； with a wages of five cents； thirty…eight million； and with a wages of seven and one…half cents； they will produce forty…two million pieces of a product of which each piece costs one…quarter hour of labor。 It is manifest that under these conditions supply and demand will be in equilibrium when we have a product of thirty…eight million pieces with a value of product； and a wages of labor equal to five cents。 This would be the price of the commodity and the level of wages at which demand and supply would come into equilibrium。 All those who desire to purchase at that price would be satisfied； and； at the same time； the price would afford sufficient indemnification for the pain endured by just the right number of workmen。 It must not； however； be forgotten that in the fixing of this level the utility of the ware is just as important a factor as the disutility of the labor； or that in the determination of this level they work together like the two blade of a pair of shears。 Here； however； my English and American colleagues and myself must part company。 They seem to regard this rule as capable of quite general application。（18*） They even seem disposed to hold that it is the great law itself。 I hold； on the other hand； that this rule has no wider application than is justified by the assumption upon which it is based； namely； that the laborer is entirely free to determine how long he will continue his daily labor。 When； however； we turn to the actual facts of our present industrial life； we find first that this assumption does not obtain； save as an exception； and that it does not correspond at all with the other assumptions upon which our empirical law of cost is based。
IV。 The Relation of the 〃Law of Cost〃 to Disutility Continued
To demonstrate the first of the two propositions with which I closed the preceding chapter； I need only advert to well…known facts。 It is； for instance； a fact of common experience； that in most branches of production the laborer is not free to determine the length of his working day。 The hours of labor are fixed more or less by custom or law。 This is true in factory and workshop； as well as in agriculture。 In some countries it is the eleven…hour day； in others the ten…hour day； that prevails。 If the present labor agitation should be at all successful； we may see the eight…hour day quite generally adopted。 In any event； the amount of the pain of labor is more or less fixed。 When changes occur in the rate of wages or in the value of the product； the laborer is not free to make a correponding change in the length of his working day； and thus restore the equilibrium between utility and disutility。 If the ten…hour day prevails； we cannot say that with a wages of seven and one…half cents per quarter hour； a million laborers will work forty…two million quarter hours； and hence that forty…two million piece of commodity will be produced； while with a wages of five cents； they will labor thirty…eight million quarter hours； and produce thirty…eight million pieces of commodity。 But whether the wages was five or seven and one…half cents； they would； in all probability； work forty million quarter hours and produce forty million piece of commodity。 In this way the equilibrium； in the case of the individual laborer； between the wages and the disutility of labor is disturbed。 With many the disutility of the last quarter hour of labor will be less than the utility of the wages received； while for others it will be in excess of the same； i。e。； the laborer in this last instance； will find that the disutility of the last quarter hour of labor （or it may well be of several of the last quarter hours） is greater than the utility of the wages that he receive for it； and this whether the rate of pay is five or seven and one…half cents per quarter hour。 If he were free to determine the length of his working day； he would； of course； work that many quarter hours less。 But； as a matter of fact； he is not free to do this。 He must either work the regular ten hours or not work at all。 He naturally chooses the former； because the total utility of his entire wages （which means for him protection from hunger； etc。）； is undoubtedly greater than the total disutility of the entire ten hours of labor。 In this way the disutility of the labor fails to operate as a correct measure； either for the amount of the labor supply or for the quantity of the product。 It also fails in the same way as a correct measure for the height of wages and the value of the product。 In so far as free competition may prevail in the determination of cost； the value of the product will vary with the wages paid； but it will not vary with the disutility of the labor。 A careful examination of the actual facts of life will show that the influence of this disutility or pain of labor only appears in the following special cases： （a） In the case of those goods that are produced outside of the time devoted to the regular occupation。 An instance of this may be found in the making or repairing of tools during leisure time； these tools being intended； not for sale； but for home use。 Their cost is the pain or disutility of the labor devoted to them； and they will be valued according to the amount of this disutility。 （b） This is also true in the case of some regular occupations； in which men produce on their own account as artists and authors。 It is also true in the case of industries carried on at home； where men are free to continue or to stop working as they may themselves determine。 That the degree of their fatigue will exert an influence upon this determination may be granted。 （c） This is likewise true in those industries in which men voluntarily work overtime and receive special payment for the same。 But such overtime is neither general nor fixed。 It is a more or less temporary and exceptional arrangement； which only continue during the period of special pressure。 Therefore the influence of this case upon the supply of labor and the value of the product is neither deep nor lasting。 （d） Differences in agreeableness or disagreeableness of the various occupations will （unless offset by other conditions） tend to give rise to differences in the rate of wages。 Those which involve less than the average laboriousness or unpleasantness； or which have associated with them certain advantage or perquisite will yield a less than normal wages。 Occupations of more than the average laboriousness or unpleasantness will； on the other hand； yield a more than normal wages。 I must； however； expressly declare； that in these cases the absolute amount of the pain of labor does not determine the absolute amount of the wages。 Difference in the disutility or pain of labor can only give rise to variations from a normal wage； and as we shall take occasion to show； this normal wages is determined by an entirely different set of conditions。 The influence of the laboriousness or disagreeableness of the labor is often greatly modified and in some instances is entirely offset by opposite tendencies。 In Professor Marshall's 〃evil paradox〃（19*） we have one of the earliest recognized facts of our economic experience。 This is the fact that unpleasant occupations； unless they demand some rare quality； usually bring in a wages that is not only no higher； but is ofttimes lower； than that paid in
