If a commodity were in no way useful, - in other words, if…
“If a commodity were in no way useful, - in other words, if it could in no way contribute to our gratification, - it would be destitute of exchangeable value, however scarce it might be, or whatever quantity of labour might be necessary to procure it.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
A commodity without utility cannot possess exchange value, regardless of scarcity or labor input.
In simple terms: Useless goods have no value.
Key Takeaway
Focus on usefulness to create value.
Themes
economics
value theory
utility
trade
labor theory of value
Mood
analytical
critical
theoretical
Type
philosophical
economic
When to use this quote
- pricing strategy
- product development
- resource allocation
- investment decisions
Key Concepts
utility
exchange value
labor
scarcity
market dynamics
Questions to Reflect On
- What determines value beyond usefulness?
- How does scarcity affect perceived worth?
A Different Perspective
Even useful items may lack value without demand.