The true nature of value by Rufus Farrington SpragueThe true nature of value by Rufus Farrington Sprague

The true nature of value

byRufus Farrington Sprague

Paperback | January 18, 2012

Pricing and Purchase Info


Earn 100 plum® points

Prices and offers may vary in store

Out of stock online

Not available in stores


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. 1907. Excerpt: ... CHAPTER I INTRODUCTION § 1. It should be clearly understood at the beginning that the purpose of this study is to ascertain the true principles regulating exchange value, as they work in the markets of today. However differently the case may here be presented from that found in modern treatises, the object aimed at is not the less an explanation of exchange value. Since the value of the service is fully insisted upon in the following exposition, it seems best to present herewith Bastiat's service theory, in a brief but careful way, in order that the differences and resemblances may be noted by the reader. My own analysis, however, which is presented in these pages, was fully worked out, it is needless to say, without any knowledge of Bastiat's treatment. § 2. Bastiat's service theory was propounded in his Harmonies Economiques, as the pivotal part of his whole conception of the science of political economy.1 It will be best to give this theory in his own words: 1 The quotations have been taken from Stirling's translation: Harmonies of Political Economy, by Frederic Bastiat, translated 3 Let us analyze the co-operation of nature of which I have spoken. Nature places two things at our disposal--materials and forces. Most of the material objects which contribute to the satisfaction of our wants and desires, are brought into the state of utility which renders them fit for our use only by the intervention of labour, by the application of the human faculties. But the elements, the atoms, if you will, of which these objects are composed, are the gifts, I will add, the gratuitous gifts, of nature It is very evident, that if man in an isolated state must, so to speak, purchase the greater part of his satisfactions by an exertion, by an effort, it is rigo...
Title:The true nature of valueFormat:PaperbackDimensions:30 pages, 9.69 × 7.44 × 0.06 inPublished:January 18, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217400329

ISBN - 13:9780217400329