chapter  64
4 Pages

SOCIAL ECONOMY AND SOCIAL INCOME

The appraisals of all enterprises are in terms of economic exchange value. They are all members of the community of exchange, which is an institution of exchange and expands with the full development of the monetary and credit systems into the community of payment. Owing to the fact that all enterprises are adjusted for exchange, they actually enter into a close community while still preserving legal independence. They thus form a productive and acquisitive body in which labor is divided and articulated. The organization of this body is also determined by the social stratification. The localization of its activities is fixed by the existing economic conditions. Thus arises the economic community of production and acquisition, the highest institution of the intercourse of exchange.