...value can never be an accurate measure of the value of other commodities. Equal Quantities of Labour, at all times and places, may be said to be of equal value to the laboitrer. In his ordinary state of health, strength, and spirits, in the ordinary degree of his skill...

...best minds of the first half of the nineteenth century. Smith's dictum, " Equal quantities of labour, at all times and places, may be said to be of equal value to the labourer," entails the obvious consequence that the real 1 Wealth of Nations, book i. chap. v. wages of the laborer...

...no exchange of products, as commodities. 1 Thus eg, Adam Smith says : "Equal quantities of labour, at all times and places, may be said to be of equal...his happiness. The price which he pays must always bo the same, whatever may be the quantity of goods which he receives in return for it. Of these, indeed,...

...lapses into very loose terminology. For an instance, we find the sentence, " equal quantities of labor, at all times and places, may be said to be of equal value to the laborer." a 1 Wealth of Nations, 2d Thorold Rogers ed., 1880, pp. 31-2. All subsequent page references...

...always be of equal value to the laborer, because, possible variations in his personal equation aside, "he must always lay down the same portion of his ease, his liberty, and his happiness." One might suppose that with the assumption of a necessary uniformity of labor pain attendant upon equal...

...Ländern? A. Smith hatte gelehrt, »that in different periods and countries the labourer, in working, lays down the same portion of his ease, his liberty and his happiness". Der Schüler wendet dem gegenüber ein1): ein indischer Arbeiter arbeite weder so intensiv noch so...

...value, can never be an accurate measure of the value of other commodities. Equal quantities of labour, at all times and places, / may be said to be of equal...always be the same, whatever may be the quantity of the goods which he receives in return for it. Of these, indeed, it may sometimes purchase a greater...

...same sense throughout his reasoning on this subject. When he says that " Equal quantities of labour at all times and places may be said to be of equal...the same portion of his ease, his liberty, and his happiness,"3 — it is clearly not value in exchange that is meant, but value in use ; and, according...

...value, can never be an accurate measure of the value of other commodities. Equal quantities of labour, at all times and places, may be said to be of equal...of his skill and dexterity, he must always lay down le same portion of his ease, his liberty, and his happiness. The price which he pays must always be...

...this time as a measure. Under ordinary 1 Introduction (Cannan's ed., p. 1). conditions the laborer " must always lay down the same portion of his ease, his liberty, and his happiness." He may receive more or less goods, but the price he pays in labor is the same : their value varies,...