A critical dissertation on the nature, measures and causes of value

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Multivolume work

Identifikator:: 1896933912

Document type:: Multivolume work

Author:: Keith, Arthur Berriedale http://d-nb.info/gnd/119086794

Title:: Responsible government in the Dominions

Place of publication:: Oxford

Publisher:: Clarendon Press

Year of publication:: 1912-

Collection:: Economics Books

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Volume

Identifikator:: 1896935052

URN:: urn:nbn:de:zbw-retromon-238139

Document type:: Volume

Author:: Keith, Arthur Berriedale http://d-nb.info/gnd/119086794

Title:: Responsible government in the Dominions

Volume count:: Vol. 2

Place of publication:: Oxford

Publisher:: Clarendon Pr.

Year of publication:: 1912

Scope:: XI Seiten, Seiten 570-1100

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Multivolume work

Structure type:: Chapter

Title:: Part IV. The federations and the union // Chapter II. The commonwealth of Australia

Collection:: Economics Books

166 ON THE DISTINCTION sesses riches who is the owner of commodities which themselves possess value*; and, fur- ther, he is rich in proportion to the value of the objects possessed. Mr. Ricardo, indeed, denies that value is the measure of riches; but a slight consideration will show, that it is the only criterion by which we can determine whe- ther one man or one community is richer than another, If the wealth of two men consisted in one single commodity, then, without entering into the question of exchange or value, we might determine that one was richer than the other, from mere excess of quantity. Even, however, in the simplest imaginable case of * Colonel Torrens is of opinion, that value is not essen- tial to the idea of riches: it may be questioned, however, whether it is not always implied, and whether the latter term would have been invented in a state of society in which there was no interchange of commodities. It is a point, at all events, of little importance ; as, in those cases which come under the notice of the political economist, value in exchange is a constant adjunct of wealth. Vide Essay on the Production of Wealth, chap. i.

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