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 I. On th nature of Value

Collection:: Economics Books

OF VALUE. lute in each; for otherwise, how could we affirm that an equality existed between these two values? If the term value denotes merely a relation between a and B, would it not be absurd to talk of the equality of their values, just as it would be absurd in speaking of the distance between the sun and the earth, to talk of an equality of their. distances from each other ? In reply to this objection, if we examine the real import of our expression, when we affirm the value of A to be equal to the value of B, we shall find it to mean neither more nor less than this, that a will exchange for B. This simple proposition contains the whole amount of meaning couched under the phrase, and it obviously expresses or includes no intrinsic or absolute quality in either commodity, but merely states a relation in which they stand to gach other. The phrase, the value of 4 is equal to the value of B, is in this view of the subject not altogether accurate; that is to say, if we speak only of two objects, without reference to

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