[36157] in Discussion of MIT-community interests
Become; An educator
daemon@ATHENA.MIT.EDU (Top Teaching Programs)
Sun Mar 1 14:01:55 2015
Date: Sun, 1 Mar 2015 14:01:54 -0500
To: <mit-talk-mtg@charon.mit.edu>
From: "Top Teaching Programs" <TopTeachingPrograms@fprte.eu>
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<p align="center">the first rose in relation to the other, the other would always fall proportionably in relation to the first? If he had so expressed himself, YMP
his<u>TXK proposition would have obtained universal consent; 7ea99ed1b6714702bd5343b786c98bee it would have been a truism which had never been denied. But as long as XFCWOGEK he continues to talk 7ea99ed1b6714702bd5343b786c98bee of</u>
the esteem in which commodities are held, his readers must consider him as peculiarly inconsistent, if, on the MOTYIO supposition of there being only two
commodities in existence, he prefers measuring the esteem GNYEUFCN in which one of them is held QYJRO by its relation to the other, rather than by its relation to
the producing labour. And they must further think, that while he YLM continues to state that “to know the [161] value of an article JJTN at any period is
merely to know its relation in 7ea99ed1b6714702bd5343b786c98bee exchange to some other commodity,” he is stating a proposition which, according to the usual sense in which the word
value 7ea99ed1b6714702bd5343b786c98bee is understood when so placed, is totally unfounded. No 7ea99ed1b6714702bd5343b786c98bee man, I believe, but the author would venture to say that he should know the value </p>
<BR><span style="font-family: Tahoma, sans-serif, Helvetica, Arial; font-size: 7px;"></span>
<p align="right">of silver four hundred years HJUNTJCNI ago by knowing the quantity LEQBEV of calicoes which VJXL an ounce of silver would then command. The sixth chapter of the author is entitled “On Measures of Value;” and the
discussion of this subject leads him AAURQTG to such strange conclusions, that one cannot but 7ea99ed1b6714702bd5343b786c98bee hil the greatest surprise at his not seeing that he must have
been proceeding in a wrong course. He ridicules the notion of its being necessary that a commodity should possess invariable value, 7ea99ed1b6714702bd5343b786c98bee in order to
form a perfect measure of value. Such a notion, which he says in a note has been entertained by all the most distinguished writers in political 7ea99ed1b6714702bd5343b786c98bee
economy, he civilly calls an utter absurdity. According to the doctrines and language of the author, no relation exists between the value of a 7ea99ed1b6714702bd5343b786c98bee
commodity 7ea99ed1b6714702bd5343b786c98bee at one [162] time and the DFPAVYJQM value of the same sort of commodity at another; and “the only use of a measure of value, in the sense of a medium </p>
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<p>of comparison, is between commodities existing at the same time.”* If this be so, it is, no doubt, quite absurd in political economists to FCPU
look for anything approaching towards an invariable measure NDYE of value, or even to talk of one commodity or object being more steady or constant in
its value than another. At the same moment, bags of hops are as good a measure of the relative value of commodities as labour or hi. with 7ea99ed1b6714702bd5343b786c98bee
regard to hi, indeed, the author particularly observes, that from the relations between corn and EDACNB hi, at NPDIKTEQY two different periods, no other
relation can be deduced; we do not advance a step beyond the infirmation given. * * We cannot deduce the relation of value between corn at the JGYFGKXS
first, and PDIKQNK corn at the second period, because no such relation exists, nor, consequently, can 7ea99ed1b6714702bd5343b786c98bee we 7ea99ed1b6714702bd5343b786c98bee ascertain URPXTD their comparative power over other
commodities. If we made BHVERG the [163] attempt, it would be, in fact, endeavouring to infer the quantities of corn which exchanged for each other
at two different periods of time, a thing obviously absurd. And further, XVW hi would not be here discharging a particular function any more than the .</p>
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