A Letter to a Political Economist: Occasioned by an Article in the Westminster Review on the Subject of Value

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R. Hunter, 1826 - Value - 101 pages

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Page 22 - Ye stars! which are the poetry of heaven, If in your bright leaves we would read the fate Of men and empires, — 'tis to be forgiven, That in our aspirations to be great, Our destinies o'erleap their mortal state, And claim a kindred with you; for ye are A beauty and a mystery, and create In us such love and reverence from afar, That fortune, fame, power, life, have named themselves a star.
Page 57 - ... in all discourses, wherein one man pretends to instruct or convince another, he should use the same word constantly in the same sense: if this were done, (which nobody can refuse, without great disingenuity) many of the books extant might be spared; many of the controversies in dispute would be at an end; several of those great volumes, swollen with ambiguous words, now used in one sense, and by and by in another, would shrink into a very narrow compass; and many of the philosophers' (to mention...
Page 51 - If the quantity of labour realized in commodities, regulate their exchangeable value, every increase of the quantity of labour must augment the value of that commodity on which it is exercised, as every diminution must lower it.
Page 39 - ... more or less valuable in proportion as more or less labour was bestowed on their production, has himself erected another standard measure of value, and speaks of things being more or less valuable in proportion as they will exchange for more or less of this standard measure. Sometimes he speaks of corn, at other times of labour, as a standard measure; not the quantity of labour bestowed on the production of any object, but the quantity which it can command in the market...
Page 52 - ... things with which they are compared. If I have to hire a labourer for a week, and instead of ten shillings I pay him eight, no variation having taken place in the value of money, the labourer can probably obtain more food and necessaries, with his eight shillings, than he before obtained for ten : but this is owing, not to a rise in the real value of his wages, as stated by Adam Smith, and more recently by Mr Malthus, but to a fall in the value of the things on which his wages are...
Page 75 - em. Each atom, by some other struck, All turns and motions tries ; Till in a lump together stuck, Behold a poem rise. Yet to the Dean his share allot, He claims it by a canon : That without which a thing is not, Is causa sine qua non.
Page 68 - ... have communicated to their language that precision and accuracy which they have employed in their observations.
Page 4 - Besides, nothing but laborious application and a clear and comprehensive intellect can enable a man on any given subject to employ successfully relevant arguments drawn from the subject itself. To employ personalities, neither labour nor intellect is required.
Page 38 - Adam Smith, who so accurately defined the original source of exchangeable value, and who was bound in consistency to maintain that all things became more or less valuable in proportion as more or less labour was bestowed on their production...
Page 58 - It is hard to find a discourse written of any subject, especially of controversy, wherein one shall not observe, if he read with attention, the same words (and those commonly the most material in the discourse, and upon which the argument turns) used sometimes for one collection of simple ideas, and sometimes for another : wbkh is a perfect abuse of language.

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