Acres Quote by William Petty
“It were good to know how much hay an acre of every sort will bear; how many cattle the same weight of each sort of hay will feed and fatten; what quantity of grain and other commodities the same acre will bear in one, three or seven years; unto what use each soil is proper; all which particulars I call intrinsic value, for there is also another value merely accidental or extrinsic.”
About This Quote
The passage distinguishes between a land's productive capacity—its measurable outputs like hay, cattle, grain—and its non‑productive, incidental attributes, arguing that true value lies in the former.
In simple terms: Intrinsic value is measurable output; extrinsic value is incidental.
Key Takeaway
Focus on measurable productivity.
Themes
Economic valuation
Agricultural productivity
Resource management
Intrinsic vs. extrinsic value
Land use efficiency
Mood
Analytical
Pragmatic
Type
Economic observation
Philosophical insight
When to use this quote
- Farm planning
- Estate appraisal
- Policy making for agriculture
- Investment decisions in land
Key Concepts
Yield estimation
Land suitability
Opportunity cost
Practical Applications
- Land valuation models
- Agricultural forecasting
Questions to Reflect On
- How does focusing solely on intrinsic value affect long‑term sustainability?
- What extrinsic factors might be overlooked in this framework?
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