Excerpt from The Ultimate Standard of Value
TA very able criticism Of my Positive Theory of Capital, in the Economic journal, June, 1892, page 328. Also in the same number a criticism of Smart's Introduction to the Theory of Value, by the same writer.
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Paperback. Zustand: New. Print on Demand. This book delves into a long-standing debate in economic theory: what determines the value of goods? The author traces the evolution of this discussion, starting with the early work of Say and Ricardo and moving through the contributions of later economists from Germany, Austria, Denmark, America, England, and Italy. The book centers around the competing claims of utility and cost as the ultimate standard of value. The author systematically examines different perspectives on this question, exploring how different interpretations of the concept of cost lead to different conclusions about the relationship between value and cost. The book then investigates the role of the "law of cost" in determining prices. The author argues that while this law is generally accepted, its theoretical implications are often misunderstood. By analyzing the different ways in which the term "cost" is used, the author lays out a clear framework for understanding the relationship between cost, utility, and the value of goods. This book provides a rigorous and insightful exploration of a fundamental question in economics, one that continues to be debated today. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781334474293_0
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