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. 193 cost of all other things remained unaltered, while that of producing gold had been reduced one half. In the very term, exchangeable value, a relative and not an absolute quantity is implied. If gold should have a greater or a less power of purchasing all other things, then all other things would have a greater or less power of purchasing gold. It is impossible to increase the exchangeable value of one set of commodities, withont at the same time diminish- ing the exchangeable power of the other set of commodities with which the first is com- pared *.» The following propositions may be stated as the results of the investigation in which we have been employed. Simple as they appear, we have seen that it is possible to overlook them. 1. Inasmuch as the term value denotes a relation between two objects, a commodity can- not be said to possess value, or to alter in value, * An Essay on the Production of Wealth, by R. Torrens, Beg

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