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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Title:: Chapter X. On the Difference between a Measure and a Cause of Value

Collection:: Economics Books

[76 DIFFERENCE BETWEEN It is certainly true, that, provided quantity of labour were the sole cause of value, we should always be able to deduce the value of two comi- modities from a knowledge of the quantities of labour which they respectively required to pro- duce them ; and in this sense, quantity of la- bour would be at once the cause and the mea- sure of value. But even under these circum- stances, an author would not be justified in an indiscriminate use of the terms; nor could he fall into such an error, had he a distinct ap- prehension of the difference between the two ideas. [t would by no means follow, however, from quantity of labour being the cause of value, that it would be of any service as a measure. On this point we may adopt the language of the author of the Dialogues: ‘ If it had been proposed as a measure of value, we might justly demand that it should be ready and easy of application ; but it is manifestly not so; for the quantity of labour employed in producing A, ¢ could not in many cases’ (as Mr. Malthus

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