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Value & an Invariable Unit of Value

Value & an Invariable Unit of Value


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1896. Excerpt: ... took in Jonah, in order to save him from death by drowning. The grim alternative of private or governmental monopoly is offered the poor exploited producer; anything to help him to secure his just wages, --namely, his entire product, --anything except to get off his back. Our Present Standard. Professor Jevons voices the chorus of the economists when he writes as follows: "All we can say, then, is that the standard unit of value is some entirely arbitrary weight of the standard metal, the exact amount of which, being a matter of indifference on general grounds, should be fixed as seems most convenient in reference to the habits of nations or other accidental circumstances." (Italics mine.) This faulty theory of the economists may be called the Styx of industry leading straight to Hades. By adopting a weight as a standard of value, the commodity back of the weight becomes king of commodities and autocrat of industry, as we shall clearly show in our next section. On this theory stands gold to-day, the vortex of a struggle that gets more intense as time moves on. A struggle intensified, also, by the demonetization of silver, which is all that can be said in favor of silver coinage, one commodity being easier monopolized than two. Our present standard of value, so called, is a certain weight of gold of a certain quality. Now, as a standard of anything must be homogeneous with such thing, --as a standard of weight must be weight, as a standard of length must be length, as a standard of color must be color, as a standard of virtue must be virtue, --so, a standard of value must be value. As our standard of to-day is simply a certain quantity of gold, how can it be a standard of value? It is actually a standard of quantity and fineness in relation to gold, that is al...


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Product Details
  • ISBN-13: 9781235650383
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 22
  • Spine Width: 1 mm
  • Width: 189 mm
  • ISBN-10: 1235650383
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 59 gr


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