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

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Title:: Chapter II. On real and nominal Value

Collection:: Economics Books

NOMINAL VALUE. 41 thing might at once become more valuable, by requiring at once more labour for its production, a position utterly at variance with the truth, that value denotes the relation in which commodi- ties stand to each other as articles of exchange. Real value, in a word, is on this theory con- sidered as being the independent result of la- bour; and consequently, if under any circum- stances the quantity of labour is increased, the real value is increased. Hence the paradox, “ that it is possible for A continually to in- crease in value —in rea! value observe — and yet command a continually decreasing quantity of B*:” and this although they were the only commodities in existence. For it must not be supposed that the author means, that A might in- crease in value in relation to a third commodity C, while it commanded a decreasing quantity of B—a proposition which is too self-evident to be insisted on; but he means that a might in- * Templars’ Dialogues, in London Magazine for May, 1824, p. 551.

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