...from two sources : from their scarcity, and from the quantity of labour required to obtain them. " There are some commodities, the value of which is...their value cannot be lowered by an increased supply. Their value is wholly independent of the quantity of labour originally necessary to produce them, and...

...from two sources : from their scarcity, and from the quantity of labour required to obtain them. " There are some commodities, the value of which is...quantity of such goods, and therefore their value canDot be lowered by an increased supply. Their value is wholly independent of the quantity of labour...

...industry,' or the expenditure of animal and intellectual strength. It is true he also remarks, that there are some commodities, the value of which is determined by their scarcity alone; but he expressly says, * they form a very small part of the mass of commodities daily exchanged,' and...

...: " There are some commodities, the value of which is determined by their scarcity alone; no labor can increase the quantity of such goods, and therefore...value cannot be lowered by an increased supply.". It is true he confines this admission to statues, pictures, scarce books, coins, and peculiar wines...

...compelled to acknowlege their influence. Even at the 2d page in his discussion on values, he says : " There are some commodities, the value of which is determined by their scarcity alone; no labor can increase the quantity of such goods, and therefore their value cannot be lowered by an increased...

...determined on the principles of supply and demand. They have a market price, but no natural price. " Some rare statues and pictures, scarce books and coins,...made only from grapes grown on a particular soil, and of which there is a very limited quantity, are all of this description." CHAPTER XII. SUBJECT OP...

...value." 8. Ricardo, however, admits that this rule is not applicable to all commodities. Thus, he says, "There are some commodities, the value of which is determined by their scarcity alone. No labor can increase the quantity of such goods, and therefore their value cannot be lowered by an increased...

...9, 10. M'Culloch's new edition of “The Works of David Ricardo,” 1888) in the following statement “There are some commodities, the value of which...cannot¿ be lowered by an increased supply. Some rare pictures, scarce books and coins, wines of a peculiar quality, which can be made only from grapes grown...

...Kicardo, however, admits that this rule is not applicable to all commodities. Thus, he says, — " There are some commodities, the value of which is determined by their scarcity alone. No labor can increase the quantity of such goods, and therefore their value cannot be lowered by an increased...

...Principles of Political Economy" that he is a most uncompromising advocate of the labour theory of value. no labour can increase the quantity of such goods,...made only from grapes grown on a particular soil, and of which there is a very limited quantity, are all of this description. Thoir value is wholly independent...