...survey, and of which some account should be given here. Value. " The word VALUE " says Adam Smith " has two different meanings, and sometimes expresses...called value in use, the other value in exchange." In the place of "value in use" we now speak of " utility;" while instead of " value in exchange " we...

...confusion has its rise in that often quoted statement of Adam Smith in which he says : " The word value, it is to be observed, has two different meanings,...object conveys. The one may be called value in use, and the other, value in exchange. The things which have the greatest value in use frequently have little...

...confusion has its rise in that often quoted statement of Adam Smith in which he says : " The word value, it is to be observed, has two different meanings,...object conveys. The one may be called value in use, and the other, value in exchange. The things which have the greatest value in use frequently have little...

...These rules determine what may be called the relative or exchangeable value of goods. ; The word VALUE, it is to be observed, has two different meanings,...may be called " value in use ; " the other. " value iu exchange." The things which have the greatest value in use have frequently little or no value in...

...Smith "has two different meanings, and sometimes expresses the utility of Value. [• -ii,- , j 4.- ,i some particular object and sometimes the power of...called value in use, the other value in exchange." In the place of " value in use" we now speak of "utility;" while instead of "value in exchange" we...

...goods.' These definitions are pretty evidently obtained by Bouvier from Adam Smith. ' The word " value," it is to be observed, has two different meanings,...called value in use ; the other value in exchange.' Wealth of Nations, ch. 4. By these definitions value has two meanings. But later learned writers, straining...

...for a week's labour. Fallen, must the same Adam Smith say, " because the value of a thing depends on the power of purchasing other goods which the possession of that object conveys," and labour has a less power of purchasing such other goods.] [SECTION II. Labour of different qualities...

...large share of our attention towards the end of this treatise. § 5. "The word VALUE" says Adam Smith "has two different meanings, and sometimes expresses...possession of that object conveys. The one may be called*ralue in use, the other value in exchange." In the place M^'jralue in use" which is a misleading...

...is really intended is value and price. Commenting upon Adam Smith's statement that " the word value has two different meanings, and sometimes expresses...goods which the possession of that object conveys"; and that "the one may be called value in use, and the other value in exchange,"1 Marshall says : "...

...definitions are pretty evidently obtained by Bouvier from Adam Smith. 1 50 State v. Yates. "The word 'value,' it is to be observed, has two different meanings,...called value in use, the other value in exchange." Wealth of Nations Chap. 4. By these definitions value has two meanings. But later learned writers,...