 | David Leverenz - Business & Economics - 2004 - 276 pages
...of Nations, ed. Edwin Cannan (New York: Modern Library, 1937, ist pub. 1776), Adam Smith writes that "Labour, therefore, is the real measure of the exchangeable value of all commodities. The real price of every thing ... is the toil and trouble of acquiring it" (30). Money's value derives... | |
 | Hayashi Hiroyoshi - Labor theory of value - 2005 - 420 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. Here Smith speaks for the first time of the value of a commodity, but he reveals a tendency to adopt... | |
 | Alessandro Roncaglia - Business & Economics - 2006 - 596 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.40 We may note that in the passage quoted above Smith does not intend to point out the... | |
 | Michael K. Salemi, W. Lee Hansen - Education - 2005 - 344 pages
...each and the significance of Smith's use of 'value' and 'price'? a. "The value of any commodity... is equal to the quantity of labour which it enables...measure of the exchangeable value of all commodities'. b. 'The commodity is then sold for precisely what it is worth or what it really costs to the person... | |
 | Kenneth Allan - Social Science - 2005 - 450 pages
...source of exchange-value? Smith argues, and Marx agrees, that the substance of all value is human labor: "Labour, therefore, is the real measure of the exchangeable value of all commodities" (Smith, 1776/1937, p. 30). There is labor involved in the book, the fish, the shoes, the potatoes,... | |
 | Ronald J. Baker - Business & Economics - 2010 - 402 pages
...measure of the exchangeable value of commodities" (ibid.: 68). The value of any commodity, therefore, to the person who possesses it, and who means not...measure of the exchangeable value of all commodities (ibid.: 72). Smith here is identifying two separate forms of value — "value in use" and a "value... | |
 | Robert F. Lusch, Stephen L. Vargo - Business & Economics - 2006 - 478 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...command. Labour, therefore, is the real measure of the exchange value of all commodities [emphasis added]. Compare this with our first two foundational premises,... | |
 | Henry George - Business & Economics - 2006 - 453 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 to use or consume it himself, bat to exchange it for other commodities, is equal to the quantity of labour which it enables him to... | |
 | Hans-Joachim Stadermann, Otto Steiger - Business & Economics - 2006 - 416 pages
...V, S. 30. „The value of any commodity, therefore, to the person who possess it, and who means ... to exchange it for other commodities is equal to the quantity of labour, which enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value... | |
 | Jeff Angus - Business & Economics - 2009 - 276 pages
...scorecard showing what wins and what loses, and how and why. Scouting & Signing Your Players: Hiring Labor, therefore, is the real measure of the exchangeable value of all commodities. — Adam Smith The First Step Is the Most Important Step — the Unrivaled Importance of Hiring No... | |
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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,... 
