Exchangeable Quotes

On the whole it may be observed, that the specific use of a body of unproductive consumers, is to give encouragement to wealth by maintaining such a balance between produce and consumption as will give the greatest exchangeable value to the results of the national industry. (Thomas Malthus)
Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them. View quote
David Ricardo
Utility then is not the measure of exchangeable value, although it is absolutely essential to it. View quote
David Ricardo
As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as the landlord, in its high exchangeable value, but a low price of produce may be compensated to him by a great additional quantity. View quote
David Ricardo
It is to labour... and to labour only, that man owes every thing possessed of exchangeable value. Labour is the talisman that has raised him from the condition of the savage - that has changed the desert and the forest into cultivated fields... Labour tho that has covered the earth with cities and the ocean with ships - of wealth that has given us plenty, comfort, and elegance, instead of want, misery, and barbarism. View quote
John Ramsay McCulloch
If a commodity were in no way useful, - in other words, if it could in no way contribute to our gratification, - it would be destitute of exchangeable value, however scarce it might be, or whatever quantity of labour might be necessary to procure it. View quote
David Ricardo
The exchangeable value of all commodities, rises as the difficulties of their production increase. View quote
David Ricardo
A conception not reducible to the small change of daily experience is like a currency not exchangeable for articles of consumption; it is not a symbol, but a fraud. View quote
George Santayana
Now the "common something," which all exchangeable things contain, is neither more nor less than abstract utility, i.e. power of satisfying human desires. View quote
Philip Wicksteed
Marx is, therefore, wrong in saying that when we pass from that in which the exchangeable wares differ (value in use) to that in which they are identical (value in exchange), we must put their utility out of consideration, leaving only jellies of abstract labour. What we really have to do is to put out of consideration the concrete and specific qualitative utilities in which they differ, leaving only the abstract and general quantitative utility in which they are identical. View quote
Philip Wicksteed
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. (David Ricardo)
In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed. View quote
David Ricardo
Labour, therefore, is the real measure of the exchangeable value of all commodities. View quote
Adam Smith