Utility then is not the measure of exchangeable value, although it is absolutely essential to it.

There can be no greater error then in supposing that capital is increased by non-consumption.

A BOUNTY on the exportation of corn tends to lower its price to the foreign consumer, but it has no permanent effect on its price in the home market.

LABOUR, like all other things which are purchased and sold, and which may be increased or diminished in quantity, has its natural and its market price. The natural price of labour is that price which is necessary to enable the labourers, on with another, to subsist and to perpetuate their race, without either increase or diminution.

The exchangeable value of all commodities rises as the difficulties of their production increase.

But a rise in the wages of labour would not equally affect commodities produced with machinery quickly consumed, and commodities produced with machinery slowly consumed.

Every transaction in commerce is an independent transaction.