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

OF VALUE. 219 him the usual compensation rather than employ their own capitals in producing a similar re- sult. Thus time is really a consideration which may influence both buyers and sellers; nor is it necessary here to enter into any metaphysical inquiry into its nature in order to prove its effects. The author of the Elements of Political Economy has made a curious attempt to re- solve the effects of time into expenditure of la- bour. « If,” says he, “the wine which is put in the cellar is increased in value one tenth by being kept a year, one tenth more of labour may be correctly considered as having been expended upon it *.” Now if any one proposition can be affirmed without dispute, it is this, that a fact can be correctly considered as having taken place only when it really has taken place. In the instance adduced, no human being, by the terms of the supposition, has approached the wine, or spent upon it a moment or a single motion of his * Elements, p. 97, 2d edition.

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