Definitions in Political Economy, / Preceded by an Inquiry Into the Rules which Ought to Guide Political Economists in the Definition and Use of Their Terms; with Remarks on the Deviation from These Rules in Their Writings

by T. R. Malthus

[61]. Dissertation on Value, c. xi. p. 194, 224. In the question between Colonel Torrens and Mr. Mill, “Whether the value of commodities depends upon capital as the final standard,” the author decides against Mr. Mill, but surely without reason. Mr. Mill cannot be wrong in thinking, that no progress whatever is made towards tracing the value of a commodity to its elements, by saying, that its value is determined by the value of the capital employed to produce it. The question still remains, how is the value of the capital determined? As to what the author says, p. 202, about the amount of capital, unless this amount be estimated in money, which quite alters the question, it is entirely inapplicable as a standard.

[62]. C. viii. p. 160.

[63]. C. vi. p. 135.

[64]. Dissertation on Value, c. ii. p. 58.

[65]. Id. p. 39.

[66]. P. 240.

[67]. Dissertation on Value, c. ii. p. 40.

[68]. Dissertation on Value, c. vi. p. 117.

[69]. Dissertation on Value, c. vi. p. 117.

[70]. Dissertation on Value, c. vi. p. 117.