 | Sir Travers Twiss - Economics - 1847 - 356 pages
...purchase. " The value of any Definition commodity, therefore, to the person who possesses it, of value ' and who means not to use or consume it himself, but...measure of the exchangeable value of all commodities. " The real price of every thing, what every thing Eeai price, really costs to the man who wants to... | |
 | John Gray - Economics - 1848 - 370 pages
...great countryman Dr. Adam Smith : these are his words :— " The value of any commodity, therefore, to the person who possesses it, and who means not...measure of the exchangeable value of all commodities. " Labour was the first price, the original purchasemoney that was paid for all things. It was not by... | |
 | Methodist Church - 1848 - 660 pages
...labor which he can command, or which he can afford to purchase. The value of any commodity, therefore, to the person who possesses it, and who means not...for other commodities, is equal to the quantity of labor which it enables him to purchase or command. Labor, therefore, is the real measure of the exchangeable... | |
 | David Thomas Ansted - Gold - 1849 - 190 pages
...offering the following extracts from his work on the Wealth of Nations:— " The value of any commodity, to the person who possesses it, and who means not...measure of the exchangeable value of all commodities. " But though labour be the measure of this value, it is not that by which their value is commonly estimated.... | |
 | Dugald Stewart - Economics - 1855 - 490 pages
...riches of individuals from merely knowing the quantities of labour which they are able to command. "The value of any commodity, therefore," continues...measure of the exchangeable value of all commodities. "f — I have sometimes thought that part of the obscurity in which Mr. * [ Wealth of Nation*, Book... | |
 | Dugald Stewart - 1855 - 490 pages
...riches of individuals from merely knowing the quantities of labour which they are able to command. "The value of any commodity, therefore," continues...measure of the exchangeable value of all commodities." f — I have sometimes thought that part of the obscurity in which Mr. * [ Wealth of Nationt, Book... | |
 | Dugald Stewart - 1855 - 496 pages
...riches of individuals from merely knowing the quantities of labour which they are able to command. "The value of any commodity, therefore," continues...measure of the exchangeable value of all commodities." f — I have sometimes thought that part of the obscurity in which Mr. Smith has involved this subject,... | |
 | Causes - Financial crises - 1857 - 80 pages
...On the question of labour, the foundation-stone of his great work, he thus expresses himself : — " Labour, therefore, is the real measure of the exchangeable value of all commodities. The real price of everything, what everything really costs to the man who wants to acquire it, is the... | |
 | Henry Dunning Macleod - Economics - 1858 - 626 pages
...cause which governed value. Adam Smith founded all his ideas of value upon labor. Thus, he says "Labor, therefore, is the real measure of the exchangeable value of all commodities. The real price of everything, what everything really costs to the man who wants to acquire it, is the... | |
 | Adam Smith - Economics - 1869 - 576 pages
...labour which he can command, or which he can afford to purchase. The value of any commodity, therefore, to the person who possesses it, and who means not...the real measure of the exchangeable value of all commodities.1 1 Lnbour is a cnuae of value, but not value. For example, the annual value the sole cause,... | |
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The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore,... 
