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" The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore,... "
The Principles of Economical Philosophy - Page 109
by Henry Dunning Macleod - 1875 - 676 pages
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An Inquiry Into the Nature and Causes of the Wealth of Nations, Volume 1

Adam Smith - 1789 - 526 pages
...commodity, therefore, to the perfon who poflefles it, and who means not to ufe or confume it himfelf, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchafe or command. Labour, therefore, is the real meafure of the excJiaQgeable value of all commodities....
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An Inquiry Into the Nature and Causes of the Wealth of Nations, Volume 1

Adam Smith - 1809 - 372 pages
...which he can afford to purchase. The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but...of the exchangeable value of all commodities. The real price of every thing, what every thing really costs to the man who wants to acquire it, is the...
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The Works of Adam Smith, Volume 2

Adam Smith - 1812 - 582 pages
...commodity, therefore, to the perfon who pofleffes it, and who means not to ufe or confume it himfelf, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchafe or command. Labour, therefore, is the real meafure of the exchangeable value of all commodities....
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The Works of Adam Smith, LL.D. and F.R.S. of London and Edinburgh:: The ...

Adam Smith - 1812 - 520 pages
...commodity, therefore, to the perfon who pofleffes it, and who means not to ufe or confume it himfelf, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchafe or command. Labour, therefore, is the real meafure of the exchangeable value of all commodities....
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Systematic Education: Or Elementary Instruction in the Various ..., Volume 2

William Shepherd, Jeremiah Joyce, Lant Carpenter - 1815 - 598 pages
...quantity of labour which it can enable them to purchase or command : •whence he infers, that labour is the real measure of the exchangeable value of all commodities." The earl of Lauderdale opposes this doctrine. He maintains, that a perfect measure of value is impossible...
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The United States Literary Gazette, Volume 4

1826 - 490 pages
...Smith are, " The value of any commodity to the person who possesses it, and who means not to use of consume it himself, but to exchange it for other commodities,...labour, which it enables him to purchase or command." This contains his whole leading principle upon the subject. How does our author encounter it ? " We...
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The United States Literary Gazette, Volume 4

1826 - 506 pages
...value of any commodity to the person who possesses it, and who means not to use or consume it himsell, but to exchange it for other commodities, is equal...labour, which it enables him to purchase or command." This contains his whole leading principle upon the subject. How does our author encounter it? "We do...
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Principles of Political Economy Considered with a View to Their Practical ...

Thomas Robert Malthus - 1836 - 520 pages
...evidently lays the chief stress. " The value of any commodity," he says, " to the person who possesses it, and who means not to use or consume it himself, but...measure of the exchangeable value of all commodities.''* Other expressions in the same chapter apply labour as a measure of value in the same way;j" and on...
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An Inquiry Into the Nature and Causes of the Wealth of Nations

Adam Smith - 1838 - 476 pages
...afford to purchase. The value of any commodity, therefore, to the person who possesses it, and whu means not to use or consume it himself, but to exchange...of the exchangeable value of all commodities. The real price of every thing, what everr thing really costs to the man who wants to acquire it, is the...
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The Monthly magazine, Volumes 54-56

Monthly literary register - 1822 - 1050 pages
...not more fortunate in his next definition, where he says that the value of a commodity to any one " is equal to the quantity of labour which it enables him to purchase or command." Had he said, as Johnson has said, that the value of a commodity is equal to its work, or the quantity...
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