 | Walter Benn Michaels - Literary Criticism - 1987 - 261 pages
...found, however, in Adam Smith's remark that "labour alone . . . never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can . . . be estimated and compared. It is their real price; money is their nominal price only." 2 Money,... | |
 | 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...is their real price, money is their nominal price only'.14 The labour theory of value is thus adopted more decisively than in the case of earlier theorists... | |
 | Nicholas K. Bromell - Literary Criticism - 1993 - 300 pages
...determinant of economic 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
...and that cheap which is to be had easily, or with very little labour. Labour, . . . therefore ... is alone the ultimate and real standard by which the...at all times and places be estimated and compared" (1904: 35 [1976b: 50-1]). Objective costs and subjective disutility of labor are harmoniously combined... | |
 | Karl Marx, Lawrence H. Simon - Philosophy - 1994 - 388 pages
...brings out that it 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...at all times and places be estimated and compared,' Adam Smith says this: 'Equal quantities of labour, at all times and places, must have the same value... | |
 | John Cunningham Wood - Biography & Autobiography - 1993 - 664 pages
...ordinary degree of his skill and dexterity." Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can a tall times and places be estimated and compared.6 the first formulation of the labour command measure... | |
 | James Maitland Earl of Lauderdale - Business & Economics - 1996 - 184 pages
...that it is stated P. 39 [Gl. edn, p. 51] "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 & places be estimated and compared." p. 49 (Gl. edn, p. 59) ln the English mint a pound weight of gold... | |
 | Michael Parenti - History - 1996 - 300 pages
...of all commodity value. Adam Smith, one of capitalisms founding theorists, wrote in 1776: "Labor is alone the ultimate and real standard by which the value of all commodities at all times and places can be estimated and compared. It is their real price, money is their nominal... | |
 | Gunnar Myrdal - Business & Economics - 1998 - 270 pages
...be of equal value to the labourer. . . . 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.' A. Smith, Op. cit., p. 35. Criticizing Adam Smith, Ingram denies that this proposition has any meaning:... | |
 | Michael Parenti - Business & Economics - 1998 - 228 pages
...enterprises. Wealth is created by the labor power of workers. As Adam Smith wrote in 1776, "Labor ... is alone the ultimate and real standard by which the...their real price; money is their nominal price only." What transforms a tree into a profitable commodity such as paper or furniture is the labor that goes... | |
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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. 
