The Principles of Political Economy With a Sketch of the Rise And Progress of T
The Principles of Political Economy With a Sketch of the Rise And Progress of T
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In our eReader you can find the full English version of the book. Read The Principles of Political Economy With a Sketch of the Rise And Progress of T 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 The Principles of Political Economy With a Sketch of the Rise And Progress of T
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The change is not in the principle that regulates and determines value — the physical exertion, or the sweat and toil of the labourer — but in what he obtains for it. What he produces, or acquires by equal quantities of labour always costs him the same sacrifice, and has, therefore, the same real value, whether it be large or small. He gives a constant, but receives a vari- able quantity in its stead.
This distinction must be kept constantly in view. Dr Smith seems to have considered the quanti...ty of labour required to produce a commodity as an equi- valent expression for the quantity of labour for which that commodity would exchange j and that, conse- quently, it might either be said that the real value of A is to the real value of B as the quantity of labour required to produce A is to the quantity required to produce B, or that the real value of A is to the real value of B as the quantity of labour for which A will exchange, is to the quantity of labour for which B will exchange.
What to read after The Principles of Political Economy With a Sketch of the Rise And Progress of T?
You can find similar books in the "Read Also" column, or choose other free books by J R John Ramsay Mcculloch to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The change is not in the principle that regulates and determines value — the physical exertion, or the sweat and toil of the labourer — but in what he obtains for it. What he produces, or acquires by equal quantities of labour always costs him the same sacrifice, and has, therefore, the same real value, whether it be large or small. He gives a constant, but receives a vari- able quantity in its stead.
This distinction must be kept constantly in view. Dr Smith seems to have considered the quanti...ty of labour required to produce a commodity as an equi- valent expression for the quantity of labour for which that commodity would exchange j and that, conse- quently, it might either be said that the real value of A is to the real value of B as the quantity of labour required to produce A is to the quantity required to produce B, or that the real value of A is to the real value of B as the quantity of labour for which A will exchange, is to the quantity of labour for which B will exchange.
What to read after The Principles of Political Economy With a Sketch of the Rise And Progress of T?
You can find similar books in the "Read Also" column, or choose other free books by J R John Ramsay Mcculloch to read onlineMoreLess
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