...acquire; and that cheap which is to be had eafily, or wtth very little labour. Labour alone, therefore, never varying in its own value, is alone the ultimate and real ftandard by which the value of all commodities can at all times and places be eftimated and compared....

...acquire ; and that cheap which is to be had easily, or with very little labour. Labour alone, therefore, never varying in its own value, is alone the ultimate...at all times and places be estimated and compared. It is their real price ; money is their nominal price only. But though equal quantities of labour are...

...acquire ; and that cheap which is to be had eafily, or with very little labour. Labour alone, therefore, never varying in its own value, is alone the ultimate and real ftandard by which the value of all commodities can at all times and places be eitimated and compared....

...acquire ; and that cheap which is to be had eafily, or with very little labour. Labour alone, therefore, never varying in its own value, is alone the ultimate and real Uandard by which the value of all commodities can at all times and places be eftimated and compared....

...real measure of the exchangeable value " of all commodities, never varying in its own *' value ; it is alone the ultimate and real " standard by which the value of all commo" dities can at all times and at all places be es" timated and compared. It is their real price:...

...of exchangeable value. Adam Smith lays it down broadly and circumstantially, book ic 5 — " Labour is alone the ultimate and real standard by which the...at all times and places be estimated and compared. It is their real price ; money is their nominal price only." Nothing can be more necessary than a strict...

...commodities. Some political economists, like the learned Adam Smith, do indeed assert that, " labour is alone the ultimate and real standard by which the value of all commodities can be estimated." Labour, no doubt, is one of the sources of value or wealth, but it ought not to be confounded...

...goods, it is their value which varies, not that of the labour which purchases them ;" and therefore, " that labour alone never varying in its own value,...at all times and places be estimated and compared ;" — but it is correct to say, as Adam Smith had previously said, " that the proportion between the...

...value which varies, not that of the labour which purchases them •" and therefore, " that la hour alone never varying in its own value, is alone the...times and places be '<->.' :* estimated and compared ;" — but it is correct to say, as Adam Smith had previously said, " that the proportion between the...

...acquire; and that cheap, which is to be had easily, or with very little labour. Labour alone, therefore, never varying in its own value, is alone the ultimate...all times and places be estimated and compared."* With great deference to so able a writer, it by no means follows, that, because labour in the same...