Excerpt from The Psychology of Meaning: A Dissertation Ricardo says: If any one commodity could be found which w and at all times required precisely the same quantity of labor to produce it, that commodity would be of an unvarying value.4 Also: Possessing utility commodities derive their exchange value from two sources: from their scarcity, and from the quantity of labor required to obtain them. 5 Thus Ricardo like Mill appears to have taken utility as a factor whose law is self-evident, and to have employed himself almost exclusively upon the elucidation of the other determinant. It is to be remarked, however, that both Mill and Ricardo, in bringing forward the element of labor as the expres sion of the limiting factor which regulates value, have taken a step toward the translation of pure objective scarcity into terms of subjective estimate, i. Sacrifice or disutility of labor. The extreme of the above view - championed by Karl Marx - states that the natural value of things consists solely in the labor put upon them. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art techlogy to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.