A Critical Dissertation on the Nature, Measures' and Causes of Value

A Critical Dissertation on the Nature, Measures' and Causes of Value

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1825 edition. Excerpt: ...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 of the case have any commodity of invariable value, by which to ascertain the fluctuations of all other things, unless all commodities were of invariable value, in which case there would be no fluctuations to ascertain. 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. We have also seen in the present chapter, that the demand for invariablenes of value in any commodity to be used as a measure, is founded altogether on a false analogy; that fluctuations in value are not ascertained by any measure, but by historical evidence; that a measure of value can signify nothing but a medium of comparison for contemporary commodities; and that we have as good a measure in this sense, not only as it is possible to have, but as it is possible to conceive. Besides these errors, there is to be discovered in Mr. Ricardo's views, as to the uses of a measure of value, a singular confusion of thought, which I shall here endeavour to explain. The specific error of Mr. Ricardo on the subject of invariable value consists, as before explained, in supposing, that if the causes of value affecting one commodity remained the same, the value of that commodity...show more

Product details

  • Paperback | 48 pages
  • 189 x 246 x 3mm | 104g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236739051
  • 9781236739056