Nature of Value

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Excerpt from Nature of Value: With Criticisms of Current Opinions on the Money QuestionTo use the illustration of that ablest economic writer. Living or dead, who. In my humble judgment, has for the first time laid the foundation for economic science at all, properly Speaking, by giving to its leading terms precise, clear and pertinent definitions - to use the illustration of Professor H. D. Macleod, The train's distance has changed, but the distance of the station remains just the same. The swapping rate of goods for money has changed 30 per cent., but swap ping rate of money for goods is the same as it was!About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.