1. The Theory Of Money And The Theory Of Value
... and Marx thought value to be - - an abstract property common to all objects, but never existing independently - and the puzzles that arise in trying to measure value. Like weight, value is inherently quantitative, but can be measured only by relative comparisons. The last step of the analogy, however, should alert us to a possible problem. In fact, no single substance such as iron comes to be ... identified with weight as such; as a matter of social convention people may use iron weights to settle disagreements about the weight of particular objects, but the idea of weight is not identif...
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- Approx Pages: 20
- Grade Level: Undergraduate