--- title: "Meaning & Key Takeaway of: In stating the principles which regulate…" description: "\"In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the com..." image: "https://sms4smile.com/quotes/i/6da/david-ricardo-9461_belong_in-stating-the-principles-which-regulate_1915584.jpg" --- # In stating the principles which regulate exchangeable… ![“In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.” quote by David Ricardo](https://sms4smile.com/quotes/i/6da/david-ricardo-9461_belong_in-stating-the-principles-which-regulate_1915584.jpg) [Download](https://sms4smile.com/quotes/i/6da/david-ricardo-9461_belong_in-stating-the-principles-which-regulate_1915584.jpg) [Open image](https://sms4smile.com/quotes/i/6da/david-ricardo-9461_belong_in-stating-the-principles-which-regulate_1915584.jpg) > “In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.” [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Value and price are affected by both the intrinsic qualities of a commodity and the medium used to measure them; distinguishing these helps clarify economic analysis. **In simple terms:** Price depends on commodity traits and measurement method. Key Takeaway Separate intrinsic value from pricing context. Themes economics valuation price theory measurement Mood analytical educational Type theoretical practical When to use this quote - market analysis - pricing strategy - academic teaching Key Concepts Intrinsic value medium effects Questions to Reflect On - How do you apply this distinction in modern digital economies? - What role does perception play in price? A Different Perspective Overemphasis on medium may ignore market sentiment. ★ ★ ★ ★ ★ No ratings yet [Belong](https://sms4smile.com/quotes/about/belong/) [Distinguish Variations](https://sms4smile.com/quotes/about/distinguish-variations-2911568/) [Exchangeable Value](https://sms4smile.com/quotes/about/exchangeable-value-2466645/) [Price](https://sms4smile.com/quotes/about/price/) [Principles](https://sms4smile.com/quotes/about/principles/) [Principles Regulate](https://sms4smile.com/quotes/about/principles-regulate-1230127/) [Should](https://sms4smile.com/quotes/about/should/) [Stating Principles](https://sms4smile.com/quotes/about/stating-principles-2911570/) [Value](https://sms4smile.com/quotes/about/value/) [Variations Belong](https://sms4smile.com/quotes/about/variations-belong-2911569/) ## Related quotes > [Utility then is not the measure of exchangeable value, although it is absolutely essential to it.](https://sms4smile.com/quotes/david-ricardo/utility-then-is-not-the-measure-of-exchangeable-value-although-it-is/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [We cannot be held to what is beyond our strength and means; for at times the accomplishment and execution may not be in our…](https://sms4smile.com/quotes/michel-de-montaigne/we-cannot-be-held-to-what-is-beyond-our-strength-and-means-for-at/) [Michel de Montaigne](https://sms4smile.com/quotes/author/michel-de-montaigne/) > [The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to…](https://sms4smile.com/quotes/adam-smith/the-value-of-any-commodity-therefore-to-the-person-who-possesses-it/) [Adam Smith](https://sms4smile.com/quotes/author/adam-smith/) > [“If I can match that price for you, then would you be happy”](https://sms4smile.com/quotes/phil-m-jones/if-i-can-match-that-price-for-you-then-would-you-be-happy/) [Phil M Jones](https://sms4smile.com/quotes/author/phil-m-jones/) > [Everything comes with a price. 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It was a great experience to be able to work with them.…](https://sms4smile.com/quotes/bethany-mota/i-am-excited-to-partner-with-aeropostale-for-my-very-own-collection/) [Bethany Mota](https://sms4smile.com/quotes/author/bethany-mota/) > [One of the Internet's highest-profile companies, Priceline once dreamed of transforming the way consumer goods are bought and sold by offering customers the chance…](https://sms4smile.com/quotes/alex-berenson/one-of-the-internet-s-highest-profile-companies-priceline-once/) [Alex Berenson](https://sms4smile.com/quotes/author/alex-berenson/) > [“The police ultimately pay the price for poor customer service when citizens become fearful of them.”](https://sms4smile.com/quotes/steven-magee/the-police-ultimately-pay-the-price-for-poor-customer-service-when/) [Steven Magee](https://sms4smile.com/quotes/author/steven-magee/) > [People will pay a price for putting political obstruction over progress in a time that is so critical and urgent.](https://sms4smile.com/quotes/tim-kaine/people-will-pay-a-price-for-putting-political-obstruction-over/) [Tim Kaine](https://sms4smile.com/quotes/author/tim-kaine/) ## More by David Ricardo > [It appears to me that one great cause of our difference in opinion on subjects which we often discuss is that you have always…](https://sms4smile.com/quotes/david-ricardo/it-appears-to-me-that-one-great-cause-of-our-difference-in-opinion-on/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [To alter the money value of commodities, by altering the value of money, and yet to raise the same money amount by taxes, is…](https://sms4smile.com/quotes/david-ricardo/to-alter-the-money-value-of-commodities-by-altering-the-value-of/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [Like all other contracts, wages should be left to the fair and free competition of themarket, and should never be controlled by the interference…](https://sms4smile.com/quotes/david-ricardo/like-all-other-contracts-wages-should-be-left-to-the-fair-and-free/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [During the period of capital moving from one employment to another, the profits on that to which capital is flowing will be relatively high,…](https://sms4smile.com/quotes/david-ricardo/during-the-period-of-capital-moving-from-one-employment-to-another/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [There is no way of keeping profits up but by keeping wages down…](https://sms4smile.com/quotes/david-ricardo/there-is-no-way-of-keeping-profits-up-but-by-keeping-wages-down/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [If the quantity of labour realized in commodities, regulate their exchangeable value, every increase of the quantity of labour must augment the value of…](https://sms4smile.com/quotes/david-ricardo/if-the-quantity-of-labour-realized-in-commodities-regulate-their/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [Whenever the current of money is forcibly stopped, and when money is prevented from settling at its just level, there are no limits to…](https://sms4smile.com/quotes/david-ricardo/whenever-the-current-of-money-is-forcibly-stopped-and-when-money-is/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [The exchangeable value of all commodities rises as the difficulties of their production increase.](https://sms4smile.com/quotes/david-ricardo/the-exchangeable-value-of-all-commodities-rises-as-the-difficulties/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [Whether a bank lent one million, ten million, or a hundred millions, they would not permanently alter the market rate of interest; they would…](https://sms4smile.com/quotes/david-ricardo/whether-a-bank-lent-one-million-ten-million-or-a-hundred-millions/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [If then the prosperity of the commercial classes, will most certainly lead to accumulation of capital, and the encouragement of productive industry; these can…](https://sms4smile.com/quotes/david-ricardo/if-then-the-prosperity-of-the-commercial-classes-will-most-certainly/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [I have already expressed my opinion on this subject in treating of rent, and have now only further to add, that rent is a…](https://sms4smile.com/quotes/david-ricardo/i-have-already-expressed-my-opinion-on-this-subject-in-treating-of/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [A BOUNTY on the exportation of corn tends to lower its price to the foreign consumer, but it has no permanent effect on its…](https://sms4smile.com/quotes/david-ricardo/a-bounty-on-the-exportation-of-corn-tends-to-lower-its-price-to-the/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [Labour, like all other things which are purchased and sold... has its natural and its market price.](https://sms4smile.com/quotes/david-ricardo/labour-like-all-other-things-which-are-purchased-and-sold-has-its/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [If a commodity were in no way useful, - in other words, if it could in no way contribute to our gratification, - it…](https://sms4smile.com/quotes/david-ricardo/if-a-commodity-were-in-no-way-useful-in-other-words-if-it-could-in-no/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) > [As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as…](https://sms4smile.com/quotes/david-ricardo/as-the-revenue-of-the-farmer-is-realized-in-raw-produce-or-in-the/) [David Ricardo](https://sms4smile.com/quotes/author/david-ricardo/) [Explore all 72 David Ricardo quotes ](https://sms4smile.com/quotes/author/david-ricardo/) ## More Belong quotes > [How come I end up where I started How come I end up where I belong... You used to be alright What happened?](https://sms4smile.com/quotes/thom-yorke/how-come-i-end-up-where-i-started-how-come-i-end-up-where-i-belong/) [Thom Yorke](https://sms4smile.com/quotes/author/thom-yorke/) > [Each of us is precious to God because each of us has their name written on the palms of God's hands. And God says…](https://sms4smile.com/quotes/desmond-tutu/each-of-us-is-precious-to-god-because-each-of-us-has-their-name/) [Desmond Tutu](https://sms4smile.com/quotes/author/desmond-tutu/) > [Never belong to a crowd; Never belong to a nation; Never belong to a religion; Never belong to a race. Belong to the whole…](https://sms4smile.com/quotes/rajneesh/never-belong-to-a-crowd-never-belong-to-a-nation-never-belong-to-a/) [Rajneesh](https://sms4smile.com/quotes/author/rajneesh/) > [I hate this feeling. Like Im here. But, Im not. Like someone cares. But, they dont. Like I belong somewhere else, anywhere but here.](https://sms4smile.com/quotes/anonymous/i-hate-this-feeling-like-im-here-but-im-not-like-someone-cares-but/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [As you know, in America there's no rights for the artist, so whatever films I've made kind of belong to the studio, so if…](https://sms4smile.com/quotes/norman-jewison/as-you-know-in-america-there-s-no-rights-for-the-artist-so-whatever/) [Norman Jewison](https://sms4smile.com/quotes/author/norman-jewison/) > [“When the time comes, everybody’s got to end up where they belong. Only me, I didn’t have a place to call my own. It’s…](https://sms4smile.com/quotes/haruki-murakami/when-the-time-comes-everybody-s-got-to-end-up-where-they-belong-only/) [Haruki Murakami](https://sms4smile.com/quotes/author/haruki-murakami/) > [God has a purpose for us. If he didn't we wouldn't be alive in the first place. We have a calling. We are a…](https://sms4smile.com/quotes/kenny-janssen/god-has-a-purpose-for-us-if-he-didn-t-we-wouldn-t-be-alive-in-the/) [Kenny Janssen](https://sms4smile.com/quotes/author/kenny-janssen/) > [I thought of how many places there are in the world that belong in this way to someone, who has it in his blood…](https://sms4smile.com/quotes/cesare-pavese/i-thought-of-how-many-places-there-are-in-the-world-that-belong-in/) [Cesare Pavese](https://sms4smile.com/quotes/author/cesare-pavese/) > [I belong to a Bohri Muslim family, and for us, food is our biggest celebration. We are used to elaborate five- to six-course meals.](https://sms4smile.com/quotes/nushrat-bharucha/i-belong-to-a-bohri-muslim-family-and-for-us-food-is-our-biggest/) [Nushrat Bharucha](https://sms4smile.com/quotes/author/nushrat-bharucha/) > [“You need to belong to yourself, and let others belong to themselves too. You need to be free and detached from things and your…](https://sms4smile.com/quotes/charlotte-eriksson/you-need-to-belong-to-yourself-and-let-others-belong-to-themselves/) [Charlotte Eriksson](https://sms4smile.com/quotes/author/charlotte-eriksson/) > [I want all of my films to belong to me.](https://sms4smile.com/quotes/alexander-payne/i-want-all-of-my-films-to-belong-to-me/) [Alexander Payne](https://sms4smile.com/quotes/author/alexander-payne/) > [“Your beliefs, and your beliefs alone, belong to you. You are the only one who is with you for your entire life.”](https://sms4smile.com/quotes/miguel-ruiz-jr/your-beliefs-and-your-beliefs-alone-belong-to-you-you-are-the-only/) [Miguel Ruiz Jr](https://sms4smile.com/quotes/author/miguel-ruiz-jr/) > [Earth does not belong to us; we belong to earth.](https://sms4smile.com/quotes/chief-seattle/earth-does-not-belong-to-us-we-belong-to-earth/) [Chief Seattle](https://sms4smile.com/quotes/author/chief-seattle/) > [I think I know where you belong. I think I know its not with me.](https://sms4smile.com/quotes/anonymous/i-think-i-know-where-you-belong-i-think-i-know-its-not-with-me/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [There's a compelling reason why I belong in the Hall of Fame, but I understand the argument against me. My career didn't go like…](https://sms4smile.com/quotes/kurt-warner/there-s-a-compelling-reason-why-i-belong-in-the-hall-of-fame-but-i/) [Kurt Warner](https://sms4smile.com/quotes/author/kurt-warner/) [Browse all 1,571 Belong quotes ](https://sms4smile.com/quotes/about/belong/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.", "creator": { "@type": "Person", "name": "David Ricardo" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/david-ricardo/in-stating-the-principles-which-regulate-exchangeable-value-and-price/", "about": { "@type": "Thing", "name": "Belong" }, "@id": "https://sms4smile.com/quotes/david-ricardo/in-stating-the-principles-which-regulate-exchangeable-value-and-price/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/6da/david-ricardo-9461_belong_in-stating-the-principles-which-regulate_1915584.jpg", "contentUrl": "https://sms4smile.com/quotes/i/6da/david-ricardo-9461_belong_in-stating-the-principles-which-regulate_1915584.jpg", "url": "https://sms4smile.com/quotes/i/6da/david-ricardo-9461_belong_in-stating-the-principles-which-regulate_1915584.jpg", "width": 1080, "height": 1080, "caption": "“In stating the principles which regulate exchangeable value and price, we should carefully distinguish…” — David Ricardo", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "David Ricardo", "item": "https://sms4smile.com/quotes/author/david-ricardo/" }, { "@type": "ListItem", "position": 4, "name": "In stating the principles which regulate...", "item": "https://sms4smile.com/quotes/david-ricardo/in-stating-the-principles-which-regulate-exchangeable-value-and-price/" } ], "@id": "https://sms4smile.com/quotes/david-ricardo/in-stating-the-principles-which-regulate-exchangeable-value-and-price/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```