OF VALUE. 25 The same error runs through the whole of Mr. Malthus’s pamphlet, entitled “The Mea- sure of Value stated and illustrated;” and is involved in the position which it is the object of that pamphlet to establish. He maintains, after Adam Smith, that labour is always of the same value ; that is, according to his own defi- nition, always retains the same power of com- manding other objects in exchange; and yet, in the same treatise, he speaks of the labourer earning a greater or smaller quantity of money Or necessaries, and insists that it is not the value of the labour which varies, but the value of the money or the necessaries. As if produce or money could change in value relatively to la- bour, without labour changing in value rela- tively to produce or money. But we need not be surprised at any implied inconsistency in Mr. Malthus, when, after having set out with the definition which we have already quoted, that value is “the power of commanding other ob- Jects in exchange,” or, in other words, “the power of purchasing,” he subsequently makes