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. 27 of degrees; it may be greater or less; which means, that the former object may command a greater or smaller quantity of the latter. In no other sense can the power of one commo- dity to purchase another be said to increase or decrease. As the value of an object a, canbe Xpressed only by the quantity of some other object B, 50 an increase in the value of A, can be expressed only by an increase in the quan- tity of B. Simple as these conclusions appear to oe, and directly flowing from the definition of value universally adopted, Mr. Ricardo has drawn contrary inferences. Although he agrees with Dr. Smith, in defining value to express the power of purchasing, and although, in the very first proposition in his book, he speaks of the value of a commodity as synonymous with the quantity of any other commodity, for which it will exchange *, yet in another chapter of his * “The value of a commodity, or the quantity of any other commodity for which it will exchange, depends on the

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