If the quantity of labour realized in commodities…
“If the quantity of labour realized in commodities, regulate their exchangeable value, every increase of the quantity of labour must augment the value of that commodity on which it is exercised, as every diminution must lower it.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Labor input determines a commodity’s exchange value; more labor raises value, less labor lowers it.
In simple terms: Labor sets price; more labor means higher price.
Key Takeaway
Consider labor costs when pricing.
Themes
economics
value theory
labor
production
Mood
analytical
neutral
Type
theoretical
educational
When to use this quote
- pricing products
- manufacturing decisions
- policy analysis
- academic teaching
Key Concepts
Labor theory of value
cost-price relationship
Questions to Reflect On
- How does labor compare to demand in setting price?
- Can value be set by labor alone?
A Different Perspective
Ignores other value factors like scarcity and demand.