{0

ON REAL AND

is indicated, the word conveys no information.
Now as the terms nominal and real do not denote
 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 arbitrarily
 assumed.
In a subsequent chapter on the value of labour,
[ shall probably have an opportunity of examining
 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. Following
 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