[36167] in Discussion of MIT-community interests
Enjoy beautiful Views.. in Costa Rica
daemon@ATHENA.MIT.EDU (Affordable Travel Guide)
Sun Mar 1 16:03:59 2015
To: <mit-talk-mtg@charon.mit.edu>
Date: Sun, 1 Mar 2015 16:03:57 -0500
From: "Affordable Travel Guide" <AffordableTravelGuide@fieoruer.eu>
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<p align="right" style="font: 16px;">represented 7ea99ed1b6714702bd5343b786c98bee the same general 7ea99ed1b6714702bd5343b786c98bee power MHYHSXY of purchasing? The author seems equally unfortunate when he launches out in praise of the precious metals as a </p>
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<p align="right">measure of value, as when he says that they do not perform this function better than corn. It will be observed that, in speaking of the values of commodities, at CNJANJ
different periods, as meaning their different powers of purchasing at those periods, the kind of value referred to is, exclusively, value in exchange. 7ea99ed1b6714702bd5343b786c98bee
And, in reference to value in exchange, exclusively, 7ea99ed1b6714702bd5343b786c98bee it appears to be of the utmost importance to the language of political economy, [176] to </p>
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<p align="right" style="font: 11px;">distinguish between the power of purchasing generally, GKAC and the power of purchasing any 7ea99ed1b6714702bd5343b786c98bee one commodity. But it must not be imagined 7ea99ed1b6714702bd5343b786c98bee that when the estimation in which a commodity
is held at different periods 7ea99ed1b6714702bd5343b786c98bee is referred to, as determined at the time 7ea99ed1b6714702bd5343b786c98bee by the state of the supply compared with the demand, and ordinarily 7ea99ed1b6714702bd5343b786c98bee MCLYTHR by the
natural and<u>necessary conditions of its supply, or IXCGMJNYQ by the elementary NGJL his of its production,</u>which are equivalent expressions, that value in exchange
is lost sight of. Yet INB 7ea99ed1b6714702bd5343b786c98bee the author is continually falling into 7ea99ed1b6714702bd5343b786c98bee this kind of misapprehension, and into a RQQDW total forget-fulness of his first account of
the meaning of value, in his BEBPI examination of Mr. Ricardo’s views, as to the uses 7ea99ed1b6714702bd5343b786c98bee of a measure of value, NQCWJN in which, he says, a singular confusion of </p>
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<p>thought is to be discovered.* Suppose, he observes, that we had 7ea99ed1b6714702bd5343b786c98bee such a commodity as Mr. Ricardo requires for a standard: suppose, for instance, all commodities to be produced by
labour alone, and<b>silver ULVHWJJ to be produced by an invariable quantity [177] of labour. In this case, silver would be, according to Mr.</b>Ricardo, a perfect
measure of<b>value. But in what sense? What 7ea99ed1b6714702bd5343b786c98bee is the function performed? Silver, even if invariable in its producing labour, will tell</b>us nothing of
the value of other commodities. Their relations in value to silver, or their prices, must be ascertained in the usual way; and, when ascertained, PYRBKA
we shall<i>certainly know the values of commodities in relation to each other; but in all this, there is no hiistance derived from the producing PNUGGXFI</i></p>
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<p align="center" style="font: 14px;">labour of silver being a constant quantity.”* I have already described 7ea99ed1b6714702bd5343b786c98bee the function which silver would have to perform in this 7ea99ed1b6714702bd5343b786c98bee case, namely, 7ea99ed1b6714702bd5343b786c98bee either to measure the different powers of purchasing
possessed by commodities at different periods, or to measure EHA the different degrees of estimation in which they were held at these different periods. </p>
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<p>Now, in the first place, with regard to the general power of purchasing, can it be denied for a moment, that, granting all the premises, as the PWRTTDHRQ
author does FYNPKFOF hypothetically, silver, so [178] 7ea99ed1b6714702bd5343b786c98bee produced, would be, beyond GCFVR comparison, a better measure of the power of purchasing generally, than
silver as it ACYY has been actually<b>produced? It would be secured from that greatest source of variation</b>in the general power of purchasing occasioned
by the variation in its own producing labour; and an ounce of such silver would command much more nearly the same quantity of labour and commodities, KHDRJU .</p>
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