A critical dissertation on the nature, measures and causes of value

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Monograph

Identifikator:: 1858887097

URN:: urn:nbn:de:zbw-retromon-271916

Document type:: Monograph

Author:: Bailey, Samuel http://d-nb.info/gnd/1055121706

Title:: A critical dissertation on the nature, measures and causes of value

Place of publication:: London

Publisher:: The London School of Economics and Political Science (University of London)

Year of publication:: 1931

Scope:: xxviii, 255 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. On Methods of bestmating Value

Collection:: Economics Books

1 56 ON METHODS OF position that all commodities were doubled in quantity, this is the result, in whichever of the commodities or parts we choose to estimate the whole. But if any one commodity is supposed to be produced in the same quantity by the same labour as before, and the whole of the other commodities are estimated in this one, it will be true enough, that the whole produce continues of the same value, while the parts have fallen one half*. From this it is evident, that in all such cases the result depends on the commodity chosen as the medium of estima- tion. As by value we always imply value in something, a commodity may be said by one person to rise, and by another to fall, and with equal truth, if they speak with tacit reference to different commodities; but a general affirma- tion of this nature is worse than useless. The assertion of a rise or fall in any thing should be accompanied by a mention of the commo- * Assuming that commodities are to each other in value as the quantities of labour concerned in their production.

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