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Page 88
The word ' value , ' when used without adjunct , always means , in political
economy value in exchange ( Mill , III . i . 3 ) . So that , if two ships cannot
exchange their rudders , their rudders are , in politico - economic language , of no
value to ...
The word ' value , ' when used without adjunct , always means , in political
economy value in exchange ( Mill , III . i . 3 ) . So that , if two ships cannot
exchange their rudders , their rudders are , in politico - economic language , of no
value to ...
Page 99
Thus far then of wealth . Next , we have to ascertain the nature of PRICE ; that is
to say , of exchange value , and its expression by currencies . Note first , of
exchange , there can be no profit in it . It is only in labour there can be profit —
that is to ...
Thus far then of wealth . Next , we have to ascertain the nature of PRICE ; that is
to say , of exchange value , and its expression by currencies . Note first , of
exchange , there can be no profit in it . It is only in labour there can be profit —
that is to ...
Page 140
Modern economic definitions give us the following : ( 1 ) Money is any
exchangeable good which is both a medium of exchange and a measure of
value . ( 2 ) Currency is any medium of exchange which is current , or which
circulates in any ...
Modern economic definitions give us the following : ( 1 ) Money is any
exchangeable good which is both a medium of exchange and a measure of
value . ( 2 ) Currency is any medium of exchange which is current , or which
circulates in any ...
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