OF VALUE.

i119

“varied in relative value, it would be desirable
to have the means of ascertaining which of
them fell, and which rose in real value, and
this could be effected only by comparing them,
one after another, with some invariable standard
measure of value, which should itself be subject
 to none of the fluctuations to which other
commodities are exposed. Of such a measure
it is impossible to be possessed, because there
is no commodity which is not itself exposed to
the same variations as the things, the value of
which is to be ascertained: that is, there is
none which is not subject to require more or
less labour for its production.”
It has been already shown in the first chapter,
 not merely that such a commodity is physically
 impossible, as here conceded by Mr. Ricardo,
 but that the supposition of such a commodity,
 for such a purpose, involves contradictory
 conditions*. We could not in the nature

* Should Mr. Ricardo, or rather should any of his followers,
 shelter himself under the notion of real value, and
thus escape the absurdity here charged upon him, it would
only be taking refuge in another absurdity equally great.