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 XI. On the Causes of Value

Collection:: Economics Books

| 82 ON THE CAUSES article cost him, each had a knowledge of the producing cost of the article to be received in exchange. But it is likely enough that they do not possess this latter knowledge, and in this case the defect will be supplied by the compe- tition of the producers, which is itself governed by the cost of production; and thus, although the two parties to the bargain may not be guided by a knowledge of what each article has cost to produce it, they are determined by considerations, of which the cost of production is the real origin. This is still more strikingly the case in other instances. A clergyman, who received his tithes in kind, and exchanged raw produce for cloth, might be ignorant of the cost of either, yet the terms of his bargain would be determined by the general cost of both. The cost would regulate the point at which the competition of the producers would fis each article, or their ordinary prices; and a knowledge of these prices would operate on his mind in the exchanges which he made. Whatever circumstances, therefore, act with

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