 | 1907 - 798 pages
...employment to employment. What do you understand by " capital " and by " employment" in this connection ? 8. "Labour, therefore, is the real measure of the exchangeable value of all things." — Wealth of Nations, Book I., ch. 5. Comment upon this dictum. 9. Explain and illustrate... | |
 | Adam Smith - Economics - 1909 - 646 pages
...which he "lean command, or which he can afford to purchase. The (value of any commodity, therefore, to the person who possesses it, and who means not...quantity of labour which it enables him to purchase or com/ mand. Labour, therefore, is the real measure of the exchangeable value of all commodities. The... | |
 | Adam Smith - Economics - 1909 - 644 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...equal to the quantity of labour which it enables him to'purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities.... | |
 | Charles Franklin Dunbar, Frank William Taussig, Abbott Payson Usher, Alvin Harvey Hansen, William Leonard Crum, Edward Chamberlin, Arthur Eli Monroe - Economics - 1912 - 956 pages
...to the understanding. " The value of any commodity to the person who possesses it," writes Smith, " and who means not to use or consume it himself, but...for other commodities, is equal to the quantity of labor which it enables him to purchase or command." l This statement is simple if " quantity of labor... | |
 | Charles Franklin Dunbar, Frank William Taussig, Abbott Payson Usher, Alvin Harvey Hansen, William Leonard Crum, Edward Chamberlin, Arthur Eli Monroe - Economics - 1912 - 816 pages
...to the understanding. " The value of any commodity to the person who possesses it," writes Smith, " and who means not to use or consume it himself, but...for other commodities, is equal to the quantity of labor which it enables him to purchase or command." ' This statement is simple if " quantity of labor... | |
 | Charles Franklin Dunbar, Frank William Taussig, Abbott Payson Usher, Alvin Harvey Hansen, William Leonard Crum, Edward Chamberlin, Arthur Eli Monroe - Economics - 1912 - 818 pages
...to the understanding. " The value of any commodity to the person who possesses it," writes Smith, " and who means not to use or consume it himself, but...for other commodities, is equal to the quantity of labor which it enables him to purchase or command." l This statement is simple if " quantity of labor... | |
 | Lewis Henry Haney - Economics - 1922 - 714 pages
...in exchange of any commodity " is equal to the quantity of labour which it enables him [the owner] to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities."3 Here, the idea obviously is that labor is the measure of valu_e : what a thing is worth... | |
 | Horace William Brindley Joseph - Labor theory of value - 1923 - 184 pages
...their price in labour, with their nominal price, or price in money. ' The value of any commodity . . ., 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 purchase money that was paid for all things. It was... | |
 | Paul Ghio - Economics - 1923 - 212 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...measure of the exchangeable value of all commodities. The real price of every thing, what every thing really costs to the man who wants to acquire it, is... | |
 | Coenraad Alexander Verrijn Stuart - Economics - 1923 - 356 pages
...noch eine dritte Auffassung, wo er kurz vorher schreibt: „the value of any commodity, therefore, to the person who possesses it, and who means not...other commodities, is equal to the quantity of labour it enables him to purchase or command." Diese Auffassung, derzufolge der Wert einer Sache von der Arbeit... | |
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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,... 
