Elementary Political Economy
Elementary Political Economy
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In our eReader you can find the full English version of the book. Read Elementary Political Economy Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Elementary Political Economy
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"When it is the custom to estimate the values of all commodities in one particular commodity, that commodity is made thereby a common measure of the relative value of different commodities. Of course any commodity may, if people choose, be used as a measure of value. If a given quantity of some com- modity will exchange for two tons of coal, that commodity is twice as valuable as a commodity the same quantity of which will only exchange for one ton of coal ; a commodity which will exchange for ...many tons of coal is more valuable than one which will exchange for few. Just as a commodity which will exchange for many gold sovereigns is more valu- able than one which will exchange for few. But 12. COMPARISON OF VALUES. 71 the fact remains that the medium of exchange is the only commodity which is ordinarily used as a measure for comparing the relative value of two or more commodities. The medium of exchange and every other commodity will only serve to compare the value of two commodities at one and the same time.
What to read after Elementary Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Cannan to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
"When it is the custom to estimate the values of all commodities in one particular commodity, that commodity is made thereby a common measure of the relative value of different commodities. Of course any commodity may, if people choose, be used as a measure of value. If a given quantity of some com- modity will exchange for two tons of coal, that commodity is twice as valuable as a commodity the same quantity of which will only exchange for one ton of coal ; a commodity which will exchange for ...many tons of coal is more valuable than one which will exchange for few. Just as a commodity which will exchange for many gold sovereigns is more valu- able than one which will exchange for few. But 12. COMPARISON OF VALUES. 71 the fact remains that the medium of exchange is the only commodity which is ordinarily used as a measure for comparing the relative value of two or more commodities. The medium of exchange and every other commodity will only serve to compare the value of two commodities at one and the same time.
What to read after Elementary Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Cannan to read onlineMoreLess
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