Elements of Political Economy
Elements of Political Economy
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In our eReader you can find the full English version of the book. Read Elements of 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 Elements of Political Economy
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It cannot be a simple sign, a thing of pure convention. It must be a real thing, a product obtained by human effort, combining the triple quality of utility, rarity and labor — without which quali- ties value does not exist — and in the determination of its value, subject, like all other commodities, to the law of supply and demand.
Accordingly money is an equivalent, i. E. , it is worth in itself as much as the object against which it is ex- changed. Otherwise stated, money is sold and bought ...for what it is worth.
2. Money as a General Instrument of Exchange, Measure and Medium. In a civilized society money is everywhere present (actually or nominally) in all ex- changes, but it is neither the first nor the final term of exchanges : it is the middle term. It is not with the final object of having the money that one buys money — for it is thus that one may define the act of exchanging merchan- dise against money, i. E. , a sale — but one does it with the object of having in his possession the instrument zvith zvhich he can procure any other commodity.
What to read after Elements of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Levasseur, Emile, 1828-1911 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It cannot be a simple sign, a thing of pure convention. It must be a real thing, a product obtained by human effort, combining the triple quality of utility, rarity and labor — without which quali- ties value does not exist — and in the determination of its value, subject, like all other commodities, to the law of supply and demand.
Accordingly money is an equivalent, i. E. , it is worth in itself as much as the object against which it is ex- changed. Otherwise stated, money is sold and bought ...for what it is worth.
2. Money as a General Instrument of Exchange, Measure and Medium. In a civilized society money is everywhere present (actually or nominally) in all ex- changes, but it is neither the first nor the final term of exchanges : it is the middle term. It is not with the final object of having the money that one buys money — for it is thus that one may define the act of exchanging merchan- dise against money, i. E. , a sale — but one does it with the object of having in his possession the instrument zvith zvhich he can procure any other commodity.
What to read after Elements of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Levasseur, Emile, 1828-1911 to read onlineMoreLess
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