A letter to a political economist, occasioned by an article in the Westminster Review on the subject of value, by the author of the critical dissertation on value therein reviewed [S. Bailey].
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able value Adam Smith admiration appears argument assertion Book of Fallacies candour cardo's cause of value chap chapter charge commodity conclusion confounding confusion considered context clearly indicate controversy cost of production CRITICAL DISSERTATION defence definition deny distinct dity doctrines economists Elemens employed the word errors exchangeable value expression ideas identical propositions ignoratio elenchi imagine imputed instance intellectual invariable measure irritation kind of value labour and corn labour to produce language of political lative less logomachy maintain McCulloch meaning measure of value metaphysical Mill mind modity nugatory passage perfectly Phaedrus philo phrase Political Economy power of purchasing proof purchasing power quantity of labour quoted reader relation relative remark reviewer's Ricardo says sense of purchasing sitions sometimes sophism standard measure technical sense term value things tical tion Torrens true uncon unconscious value but exchangeable value in exchange verbal Westminster critic Westminster Review word value writers
Page 26 - A beauty and a mystery, and create In us such love and reverence from afar That fortune, fame, power, life, have named themselves a star.
Page 56 - If I have to hire a labourer for a week, and instead of ten shillings I pay him eight, no variation having taken place in the value of money, the labourer can probably obtain more food and necessaries with his eight shillings than he before obtained for ten; but this is owing, not to a
Page 12 - I presume that in your use, and in every body's use of the word value, a high value ought to purchase a high value, and that it will be very absurd if it should not. But as to purchasing a great quantity, that condition is surely not included in any man's idea of value.
Page 73 - The sentence, ' It is a fruitless verbal debate,' is an assertion of the same complexion with the contemptuous sneers at verbal criticism by the contemporaries of Bentley. In questions of philosophy or divinity, that have occupied the learned, and been the subjects of many
Page 73 - controversies, for one instance of mere logomachy, I could bring ten instances of logodaedaly, or verbal legerdemain, which have perilously confirmed prejudices, and withstood the advancement of truth, in consequence of the neglect of verbal debate, i. e. strict discussion of terms*.
Page 43 - in proportion as they will exchange for more or less of this standard measure. Sometimes he speaks of corn, at other times of labour as a standard measure; not the quantity of
Page 57 - which his wages are expended, things perfectly distinct: and yet, for calling this a fall in the real value of wages, I am told that I adopt new and unusual language, not reconcileable with the true principles of the science. To me it appears that the unusual, and indeed inconsistent.. language is that used by my opponents.
Page 55 - the quantity of labour must augment the value of that commodity on which it is exercised in relation to other commodities, which continued to require only the same labour as before. This, however, although perfectly consonant with his doctrines, will not be found to have been Mr.