 | Warren Edwin Brokaw - Economics - 1927 - 396 pages
...return for it. ... Labor alone, therefore, never varying in its own value, is alone the utilmate and real standard by which the value of all commodities can at all times and places be estimated and compared." "Labor, therefore, it appears, evidently is the only universal, as well as the only... | |
 | Maurice Dobb - Business & Economics - 1975 - 308 pages
...happiness . . . Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared. It is their real price; money is their nominal price only."* Perhaps one could translate... | |
 | Thomas Sowell - Business & Economics - 1994 - 174 pages
...very little labour. Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared. It is their real price; money is their nominal price only.79 This defines a measure of... | |
 | Adam Smith - Biography & Autobiography - 1987 - 500 pages
...remote, cannot be the final measure or standard. It cannot 1 ' therefore be 'alone the ultimate and real standard by which the value of all commodities can, at all times and places, be estimated and compared: it is not their real price.' I must therefore conclude, in a proposition which I quote... | |
 | Anthony A. Lee - Religion - 1984 - 280 pages
...on whose land the product had been made. Of these elements, Smith said, labor was the ultimate and real standard by which the value of all commodities can at all times be measured and compared. David Ricardo developed this theme by arguing that rent was not a real factor.... | |
 | Makoto Itoh, Makoto Itō - Business & Economics - 1988 - 468 pages
...value to the labourer',12 as being the same amount of 'toil and trouble'.13 Accordingly, labour is 'the real standard by which the value of all commodities can at all times and places be estimated and compared. It is their real price, money is their nominal price only'.14 The labour theory of value... | |
 | Nicholas K. Bromell - Literary Criticism - 1993 - 300 pages
...value. "Labour alone," wrote Smith, ". . . never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times be estimated and compared. It is their real price; money is their nominal price only."16 While by the... | |
 | Werner Stark - Business & Economics - 342 pages
...to be had easily, or with very little labour. Labour, . . . therefore ... is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared" (1904: 35 [1976b: 50-1]). Objective costs and subjective disutility of labor are harmoniously... | |
 | John Cunningham Wood - Biography & Autobiography - 1993 - 664 pages
...return for it ... Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared. [1976, 1:50-51] Smith's error, if indeed it is an error, is to assume that the psychological... | |
 | Karl Marx, Lawrence H. Simon - Philosophy - 1994 - 388 pages
...is a very strange thing, abounding in 17. In order to prove that 'labour alone is the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared,' Adam Smith says this: 'Equal quantities of labour, at all times and places, must have... | |
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Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared. 
