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

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Title:: Chapter IX. On the Distinction between Value and Riches

Collection:: Economics Books

BETWEEN VALUE AND RICHES. 167 this kind, there would necessarily be a supe- riority of value, if such an idea came at all into question, as well as of wealth. If the sole commodity in possession of the two indi- viduals were corn, of which one possessed 500 quarters and the other 1000, the latter would not only be richer, but the proprietor of pro- duce, the aggregate value of which was oreater. In all but this very simplest case, it would be impossible to decide with accuracy on the superiority of two individuals in point of riches, except by estimating their value in some common medium. Suppose the individual who possessed the 500 quarters of corn, was worth also 500 yards of cloth, while the other, who had 1000 quarters of corn, possessed only 100 yards of cloth ; in what imaginable method could their riches be compared, and the supe- riority of one over the other be ascertained, except by means of their value, computed in some common medium of estimation, or re- duced into one denomination ?

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