 | Henry Dunning Macleod - Economics - 1881 - 452 pages
...had easily, or with 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 be estimated and compared. It is their real price : money is their nominal price only. ' But though... | |
 | Henry Dunning Macleod - Economics - 1881 - 458 pages
...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. - • ' But though equal Quantities of Labour are always of equal value to the labourer (! !), yet... | |
 | Alexander Mackenzie, Alexander Macgregor, Alexander Macbain - Clans - 1883 - 604 pages
...exchangeable value of all commodities." " Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the...their real price; money is their nominal price only." " Labour, therefore, it appears, evidently is the only universal, as well as the only accurate, measure... | |
 | National cyclopaedia - 1884 - 670 pages
...endeavoured to prove that " labour, never varying in its own value, is alone the ultimate and just standard by which the value of all commodities can...at all times and places be estimated and compared" — an obviously erroneous doctrine, which will be fonnd more fully dealt with in a separate article.... | |
 | John Joseph Lalor - Economics - 1884 - 1254 pages
...is alone the ultimate and real standard by which the real value of all commodities can at all times be estimated and compared : it is their real price; money is their nominal price." (Book i., chap, v.) He further discriminates between the natural and the market price of commodities.... | |
 | Circulating capital - Currency question - 1885 - 472 pages
...nominal price of commodities. He says : — " Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the...their real price ; money is their nominal price only." Now, it is clear that labour can never be made a standard of values, without adopting some concrete... | |
 | David Ricardo, John Ramsay McCulloch - Economics - 1886 - 688 pages
...labour which purchases them ;" and therefore, " that labour alone never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at ull times and places estimated and compared ;" — but it is correct to say, as Adam Smith had previously... | |
 | VAN BUREN DENSLOW - 1888 - 826 pages
...be had easily or with very little labor. Labor alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the...their nominal price only. . . As a measure of quality, such as the natural foot, fathom, or handf nil, which is continually varying in its own quantity, can... | |
 | John Kells Ingram - Economics - 1888 - 274 pages
...are of equal value to the labourer." 2 " Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the...their real price ; money is their nominal price only." Money, however, is in men's actual transactions the measure of value, as well as the vehicle 1 Smith... | |
 | William Lee Rees - Cooperation - 1888 - 504 pages
...the source of all wealth. He even makes labour the measure of values. ' Labour alone/ he says, ' is the ultimate and real standard by which the value...at all times and places, be estimated and compared. Equal quantities of labour, at all times and places, may be said to be of equal value to the labourer.'... | |
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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. 
