Essentials Quote by David Ricardo
“Utility then is not the measure of exchangeable value, although it is absolutely essential to it.”
About This Quote
Source Book: Principles of Political Economy, 1817
Utility is essential but not the sole determinant of value; other factors also matter.
In simple terms: Value isn’t just about usefulness.
Key Takeaway
Consider multiple value dimensions.
Themes
economics
value theory
utility
Mood
analytical
critical
Type
economic
philosophical
When to use this quote
- trade
- pricing
- policy analysis
Key Concepts
subjective value
exchange
market dynamics
Questions to Reflect On
- How do non‑utility factors influence price?
- When does utility fail to explain value?
A Different Perspective
Ignores cultural and emotional value aspects.
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