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 II. On real and nominal Value

Collection:: Economics Books

{0 ON REAL AND is indicated, the word conveys no information. Now as the terms nominal and real do not de- note any thing in this way, they stand in the predicament just mentioned, they convey no precise information, and are liable to engender continual disputes, because their meaning is ar- bitrarily assumed. In a subsequent chapter on the value of labour, [ shall probably have an opportunity of ex- amining some of the positions of this writer, founded on his doctrine of the real value of wages. At present it will be sufficient to confine ourselves to the value of commodities. Follow- ing Mr. Ricardo, he appears entirely to lose sight of the relative nature of value, and, as] have remarked in the preceding chapter, to consider it as something positive and absolute; so that if there were only two commodities in the world, and they should both from some circumstances or other come to be produced by double the usual quantity of labour, they would both rise in real value, although their relation to each other would be undisturbed. According tothis doctrine, every

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