The Measure of Value Stated and Illustrated

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Excerpt from The Measure of Value Stated and Illustrated: With an Application of It to the Alterations in the Value of the English Currency Since 1790IT is generally allowed that the word value, in common language, has two different meanings, one, value in use, the other, value in exchange, the first expressing merely the usefulness of an object in supplying the most important wants of mankind, Without reference to its power of commanding other objects in exchange, and the second expressing the power of commanding other objects 1n exchange, Without reference to its usefulness in supplying the most important wants of mankind.It is obviously value in the last sense, not the first, with which the science of Political Economy is mainly concerned.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.