Wednesday, March 17, 2010

The Marvellous Adam Smith

"The word VALUE, it is to be observed, has two different meanings, and sometimes expresses the utility of some particular object, and sometimes the power of purchasing other goods which the possession of that object conveys. The one may be called 'value in use'; the other, 'value in exchange'.

The things which have the greatest value in use have frequently little or no value in exchange; and, on the contrary, those which have the greatest value in exchange have frequently little or no value in use."

Maybe this sounds more profound to me because I'm listening to Yann Tiersen. Still.

3 comments:

  1. Lovely thoughts to mull over.

    Joy always,
    Susan

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  2. Yes they are, aren't they?
    Thanks for stopping by, Druze.

    Did you know that 'Druze' refers to a person of a particular religion. I didn't until very recently.

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  3. No I did not know that. Well, it could refer to me as well :)

    Joy always

    ReplyDelete