Quotes About Exchange-value

The formula itself expresses that the money is not spent here as money, but is only advanced, and is thus simply the money form of capital, money capital. It further expresses the fact that it is the exchange-value, not the use-value, that is the decisive inherent purpose of the movement.

The central element in the economic problem of money is the objective exchange-value of money, popularly called its purchasing power.

No. 2's infamous opening line is a double gambit: the Village does not really want information, of course, only obedience. (From their point of view, information is an exchange-value, not a use-value). In fact, it is No. 6 who truly wants information: information on who No. 1 is, where the Village really is, which side runs it, and how it might be possible to escape.

Ideology is essentially a matter of meaning; but the condition of advanced capitalism, some would suggest, is one of pervasive non-meaning. The sway of utility and technology bleach social life of significance, subordinating use-value to the empty formalism of exchange-value.

The doctrine of the importance of hoards for stabilizing the objective exchange-value of money has gradually lost its adherents with the passing of time. Nowadays its supporters are few.

The jurist is totally unacquainted with the problem of the value of money; he knows nothing of fluctuations in its exchange-value. The naive popular belief in the stability of the value of money has been admitted, with all its obscurity, into the law, and no great historical cause of large and sudden variations in the value of money has ever provided.

The social displacements that occur as consequences of variations in the value of money result solely from the circumstance that this assumption never holds good. In the chapter dealing with the determinants of the objective exchange-value of money it was shown that variations in the value of money always start from a given point and gradually spread out from this point through the whole community.

The central element in the economic problem of money is the objective exchange-value of money, popularly called its purchasing power.

For when the Law of Price declares that a good actually commands a particular price, and explains why it does so, it of course implies that the good is able to command this price, and explains why it is able to do so. The Law of Price comprehends the Law of Exchange-Value.

Before an economic good begins to function as money it must already possess exchange-value based on some other cause than its monetary function. But money that already functions as such may remain valuable even when the original source of its exchange-value has ceased to exist. Its value then is based entirely on its function as common medium of exchange.1

If rapid and erratic variations in prices were usually encountered in the market, the conception of objective exchange-value would not have attained the significance that it is actually accorded both by consumer and producer.