Exchange Value Quotes

When individuals are exchanging present goods against future goods they do not take account in their valuations of Variations in the objective exchange-value of money. Lenders and borrowers are not in the habit of allowing for possible future fluctuations in the objective exchange-value of money. ~ Ludwig Von Mises

The central element in the economic problem of money is the objective exchange-value of money, popularly called its purchasing power. ~ Ludwig Von Mises

… what makes an object beautiful has nothing to do with its usefulness or its exchange value. ~ Andrew Bowie

If the objective exchange-value of money must always be linked with a pre-existing market exchange-ratio between money and other economic goods (since otherwise individuals would not be in a position to estimate the value of the money), it follows that an object cannot be used as money unless, at the moment when its use as money begins, it already possesses an objective exchange-value based on some other use. ~ Ludwig Von Mises

The music of the soul is also the music of salesmanship. Exchange value, not truth value counts. On it centers the rationality of the status quo, and all alien rationality is bent to It. ~ Herbert Marcuse

If mass communications blend together harmoniously, and often unnoticeably, art, politics, religion, and philosophy with commercials, they bring these realms of culture to their common denominator
the commodity form. The music of the soul is also the music of salesmanship. Exchange value, not truth value, counts. ~ Herbert Marcuse

It [bourgeoisie] has resolved personal worth into exchange value, and in place of the numberless indefeasible chartered freedoms, has set up that single, unconscionable freedom – Free Trade. ~ Karl Marx

By 'the objective exchange-value of money' we are accordingly to understand the possibility of obtaining a certain quantity of other economic goods in exchange for a given quantity of money; and by 'the price of money' this actual quantity of other goods. ~ Ludwig Von Mises

Well, I make a practice of not commenting on the role of the relative exchange value of our currency. ~ John W. Snow

This involves a lengthy restatement, in plain language, of the point made in more Hegelian terms in the Grundrisse. The dual nature of commodities, which can be seen as use-values or exchange-values, affects labour too. What is special about labour, though, is that it is the measure of exchange-value. ~ Anonymous

Oikonomia is the science or art of efficiently producing, distributing, and maintaining concrete use values for the household and community over the long run. Chrematistics is the art of maximizing the accumulation by individuals of abstract exchange value in the form of money in the short run. ~ Wendell Berry

Big variations in the value of money give rise to the danger that commerce will emancipate itself from the money which is subject to State influence and choose a special money of its own. But without matters going so far as this it is still possible for all the consequences of variations in the value of money to be eliminated if the individuals engaged in economic activity clearly recognize that the purchasing power of money is constantly sinking and act accordingly. If in all business transactions they allow for what the objective exchange-value of money will probably be in the future, then all the effects on credit and commerce are finished with. In proportion as the Germans began to reckon in terms of gold, so was further depreciation rendered incapable of altering the relationship between creditor and debtor or even of influencing trade. By going over to reckoning in terms of gold, the community freed itself from the inflationary policy of the government. Thus it checkmated this inflationary policy, and eventually even the government was obliged to acknowledge gold as a basis of reckoning. ~ Ludwig Von Mises

For hundreds, even thousands, of years, people completely failed to see that variations in the objective exchange-value of money could be induced by monetary factors. They tried to explain all variations of prices exclusively from the commodity side. ~ Ludwig Von Mises

The marginal utility of money to any individual, i.e., the marginal utility derivable from the goods that can be obtained with the given quantity of money or that must be surrendered for the required money, presupposes a certain exchange-value of the money; so the latter cannot be derived from the former. 1 Those who have realized the significance of historically-transmitted values in the determination of the objective exchange-value of money will not find great difficulty in escaping from this apparently circular argument. ~ Ludwig Von Mises

Capitalism is also incapable of promoting sustainable development, not because it encourages technological advances that are capable of straining the earth's resources but because the purpose of capitalist production is exchange value not use value, profit not people. ~ Ellen Meiksins Wood

If we compare two static economic systems, which differ in no way from one another except that in one there is twice as much money as in the other, it appears that the purchasing power of the monetary unit in the one system must be equal to half that of the monetary unit in the other. Nevertheless, we may not conclude from this that a doubling of the quantity of money must lead to a halving of the purchasing power of the monetary unit; for every variation in the quantity of money introduces a dynamic factor into the static economic system. The new position of static equilibrium that is established when the effects of the fluctuations thus set in motion are completed cannot be the same as that which existed before the introduction of the additional quantity of money. Consequently, in the new state of equilibrium the conditions of demand for money, given a certain exchange-value of the monetary unit, will also be different. If the purchasing power of each unit of the doubled quantity of money were halved, the unit would not have the same significance for each individual under the new conditions as it had in the static system before the increase in the quantity of money. ~ Ludwig Von Mises

There are two parts to the problem of measuring the objective exchange-value of money. First we have to obtain numerical demonstration of the fact of variations in the objective exchange-value of money; then the question must be decided whether it is possible to make a quantitative examination of the causes of particular price movements, with special reference to the question whether it would be possible to produce.
So far as the first-named problem is concerned, it is self-evident that its solution must assume the existence of a good, or complex of goods, of unchanging objective exchange-value. The fact that such goods are inconceivable needs no further elucidation.
If the one is proved to be soluble, then so also is the other; and proof of the insolubility of the one is also proof of the insolubility of the other. ~ Ludwig Von Mises

Exchange value forms the substance of money, and exchange value is wealth. ~ Karl Marx

Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark. ~ Murray Rothbard

It has drowned the most heavenly ecstasies of religious fervour, of chivalrous enthusiasm, of Philistine sentimentalism, in the icy water of egotistical calculation. It has resolved personal worth into exchange value, and in place of numberless indefeasible chartered freedoms, it has set up that single, unconscionable freedom
free trade. In one word, for exploitation, veiled by religious and political illusions, it has substituted naked, shameless, direct, brutal exploitation. ~ Karl Marx

In symbolic exchange, of which the gift is our most proximate illustration, the object is not an object: it is inseparable from the concrete relation in which it is exchanged, the transferential pact that it seals between two persons: it is thus not independent as such. It has, properly speaking, neither use value nor (economic) exchange value. The object given has symbolic exchange value. ~ Jean Baudrillard

For when the Law of Price declares that a good actually commands a particular price, and explains why it does so, it of course implies that the good is able to command this price, and explains why it is able to do so. The Law of Price comprehends the Law of Exchange-Value. ~ Ludwig Von Mises

We don't go further than what Marx called the exchange value of the actual object- we don't think about the relations that that object embodies- and were important to the production of that object, whether it's our food or our clothes or our iPads or all the materials we use to acquire an education at an institution like this. That would really be revolutionary to develop a habit of imagining the human relations and non-human relations behind all of the objects that constitute our environment. ~ Angela Davis

That policy which aims at raising the objective exchange-value of money is called, after the most important means at its disposal, restrictionism or deflationism. This nomenclature does not really embrace all the policies that aim at an increase in the value of money. The aim of restrictionism may also be attained by not increasing the quantity of money when the demand for it increases, or by not increasing it enough. This method has quite often been adopted as a way of increasing the value of money in face of the problems of a depreciated credit-money standard. ~ Ludwig Von Mises

The bourgeoisie, wherever it has got the upper hand, has put an end to all feudal, patriarchal, idyllic relations. It has pitilessly torn asunder the motley feudal ties that bound man to his 'natural superiors,' and has left remaining no other nexus between man and man than naked self-interest, callous 'cash payment.' It has drowned the most heavenly ecstasies of religious fervor, of chivalrous enthusiasm, of philistine sentimentalism, in the icy water of egotistical calculation. It has resolved personal worth into exchange value, and in place of the numberless indefeasible chartered freedoms, has set up that single, unconscionable freedom - Free Trade. In one word, for exploitation, veiled by religious and political illusions, it has substituted naked, shameless, direct, brutal exploitation.

The bourgeoisie has stripped of its halo every occupation hitherto honored and looked up to with reverent awe. It has converted the physician, the lawyer, the priest, the poet, the man of science, into its paid wage laborers.

The bourgeoisie has torn away from the family its sentimental veil, and has reduced the family relation to a mere money relation. ~ Karl Marx

Value manifests itself as exchange value, as a quantitatively determined relationship, in virtue of the fact that one commodity can be exchanged for another. ~ Rudolf Hiferding

As use-values, commodities differ above all in quality, while as exchange-values they can only differ in quantity, and therefore do not contain an atom of use-value. ~ Karl Marx

Modern technologies are 99 percent bravery , and 1 percent investment ~ Arif Naseem

A variation in the objective exchange-value of money can arise only when a force is exerted in one direction that is not cancelled by a counteracting force in the opposite direction. If the causes that alter the ratio between the stock of money and the demand for it from the point of view of an individual consist merely in accidental and personal factors that concern that particular individual only, then, according to the law of large numbers, it is likely that the forces arising from this cause, and acting in both directions in the market, will counterbalance each other. ~ Ludwig Von Mises

The objective exchange-value of money which rules in the market to-day is derived from yesterday's under the influence of the subjective valuations of the individuals frequenting the market, just as yesterday's in its turn was derived under the influence of subjective valuations from the objective exchange-value possessed by the money the day before yesterday. If in this way we continually go farther and farther back we must eventually arrive at a point where we no longer find any component in the objectIve exchange-value of money that arises from valuations based on the function of money as a common medium of exchange; where the value of money is nothing other than the value of an object that is useful in some other way than as money. ~ Ludwig Von Mises

So far no chemist has ever discovered exchange-value either in a pearl or a diamond. ~ Karl Marx

The anarchists cannot consider, like the collectivists, that a remuneration which would be proportionate to the hours of labour spent by each person in the production of riches may be an ideal, or even an approach to an ideal, society. Without entering here into a discussion as to how far the exchange value of each merchandise is really measured now by the amount of labour necessary for its production - a separate study must be devoted to the subject - we must say that the collectivist ideal seems to us merely unrealizable in a society which has been brought to consider the necessaries for production as a common property. Such a society would be compelled to abandon the wage-system altogether. It appears impossible that the mitigated individualism of the collectivist school could co-exist with the partial communism implied by holding land and machinery in common - unless imposed by a powerful government, much more powerful than all those of our own times. The present wage-system has grown up from the appropriation of the necessaries for production by the few; it was a necessary condition for the growth of the present capitalist production; and it cannot outlive it, even if an attempt be made to pay to the worker the full value of his produce, and hours-of-labour-checks be substituted for money. Common possession of the necessaries for production implies the common enjoyment of the fruits of the common production; and we consider that an equitable organization of society can o ~ Pyotr Kropotkin

The social displacements that occur as consequences of variations in the value of money result solely from the circumstance that this assumption never holds good. In the chapter dealing with the determinants of the objective exchange-value of money it was shown that variations in the value of money always start from a given point and gradually spread out from this point through the whole community. ~ Ludwig Von Mises

The jurist is totally unacquainted with the problem of the value of money; he knows nothing of fluctuations in its exchange-value. The naive popular belief in the stability of the value of money has been admitted, with all its obscurity, into the law, and no great historical cause of large and sudden variations in the value of money has ever provided. ~ Ludwig Von Mises

It will be the obvious result of this that the prices of the goods concerned will rise, and that the objective exchange-value of money will fall in comparison. But this rise of prices will by no means be restricted to the market for those goods that are desired by those who originally have the new money at their disposal. In addition, those who have brought these goods to market will have their incomes and their proportionate stocks of money increased and, in their tum, will be in a position to demand more intensively the goods they want, so that these goods will also rise in price. Thus the increase of prices continues, having a diminishing effect, until all commodities, some to a greater and some to a lesser extent, are reached by it. ~ Ludwig Von Mises

The older theories, which started from an erroneous conception of the social demand for money, could never arrive at a solution of this problem. Their sole contribution is limited to paraphrases of the proposition that an increase in the stock of money at the disposal of the community while the demand for it rClnains the same decreases the objective exchange-value of money, and that an increase of the demand with a constant available stock has the contrary effect, and so on. By a flash of genius, the formulators of the Quantity Theory had already recognized this. We cannot by any means call it an advance when the formula giving the amount of the demand for money (Volume of Transactions + Velocity of Circulation) was reduced to its elements. ~ Ludwig Von Mises

Restrictionism, however, demands positive sacrifices from the national exchequer when it is carried out by the withdrawal of notes from circulation (say through the issue of interest-bearing bonds or through taxation) and their cancellation.

The unpopularity of restrictionism has other causes as well. Attempts to raise the objective exchange-value of money, in the circumstances that have existed, have necessarily been limited either to single States or to a few States and at the best have had only a very small prospect of simultaneous realization throughout the whole world. Now as soon as a single country or a few countries go over to a money with a rising purchasing power, while the other countries retain a money with a falling or stationary exchange-value, or one which although it may be rising in value is not rising to the same extent, then, as has been demonstrated above, the conditions of international trade are modified. In the country whose money is rising in value, exportation becomes more difficult and importation easier. ~ Ludwig Von Mises

The exchange-value of money is the anticipated use-value of the things that can be obtained with it. ~ Ludwig Von Mises

Every separate economic agent maintains a stock of money that corresponds to the extent and intensity with which he is able to express his demand for it in the market. If the objective exchange-value of all the stocks of money in the world could be instantaneously and in equal proportion increased or decreased, if all at once the money-prices of all goods and services could rise or fall uniformly, the relative wealth of individual economic agents would not be affected. Subsequent monetary calculation would be in larger or smaller figures; that is all. ~ Ludwig Von Mises

No. 2's infamous opening line is a double gambit: the Village does not really want information, of course, only obedience. (From their point of view, information is an exchange-value, not a use-value). In fact, it is No. 6 who truly wants information: information on who No. 1 is, where the Village really is, which side runs it, and how it might be possible to escape. ~ Dennis Redmond

No exchanges of goods (for other goods or for money) would ever take place, unless the same physical thing had different values to different people. ~ Thomas Sowell

The places in which we are seen and heard are holy places. They remind us of our value as human beings. They give us the strength to go on. ~ Rachel Naomi Remen

Sharing our ideas with others is a way of showing what is important to us. We are sending out signals about ourselves as we highlight what we value and care about. ~ Alfred Hermida

I'll trade you then, an exchange of a deeply personal experience... From one stranger to another. ~ Charming Man

Knowledge rooted in experience shapes what we value and as a consequence how we know what we know as well as how we use what we know. ~ Bell Hooks

Somehow people get the idea I think we should be given gumdrops whenever we do anything of value. ~ B.F. Skinner

People who have experienced war have learned to accept the trials and sufferings of life. Among many wise, older citizens in American society, there is no desperate flight from suffering. Instead, there is a recognition that it is a part of life that can have some benefit. Yet among those in the post-World War II generation, a wisp of happiness is the goal, and suffering must be avoided at all costs. If there are hardships in a relationship, end it. If there is an unpleasant emotion, medicate it. It is a generation that perceives no value to any hardship. Like a pampered child who never experienced the regular storms of life, we lack the skill of growing through our trials. ~ Edward T. Welch

Of what earthly value is Christianity if it leaves no indelible mark on one's lifestyle? It is of no value (in this life) to be Christian if you do not think Christianly--if you do not have a Christian life view. ~ Patrick Morley

Unless the exchange be in love and kindly justice, it will but lead some to greed and others to hunger. ~ Khalil Gibran

I value mothers and motherhood enormously. For every inattentive or abusive mother in my fiction I think you'll find a dozen or so who are neither. ~ William Trevor

The task is clear: to create a culture of caretaking in which no one and nowhere is thrown away, in which the inherent value of people and all life is foundational. ~ Naomi Klein

I don't read reviews, There's no value for me in reading them. Whether they're good or bad, they'll just make me self-conscious. ~ Mary Stuart Masterson

Nowadays, the practice of yoga stops with just asanas. Very few even attempt dharana and dhyana (deeper meditation) with seriousness. There is a need to search once more and reestablish the practice and value of yoga in modern times. ~ Tirumalai Krishnamacharya

Hold childhood in reverence, and do not be in any hurry to judge it for good or ill. Leave exceptional cases to show themselves, let their qualities be tested and confirmed, before special methods are adopted. Give nature time to work before you take over her business, lest you interfere with her dealings. You assert that you know the value of time and are afraid to waste it. You fail to perceive that it is a greater waste of time to use it ill than to do nothing, and that a child ill taught is further from virtue than a child who has learnt nothing at all. You are afraid to see him spending his early years doing nothing. What! is it nothing to be happy, nothing to run and jump all day? He will never be so busy again all his life long. Plato, in his Republic, which is considered so stern, teaches the children only through festivals, games, songs, and amusements. It seems as if he had accomplished his purpose when he had taught them to be happy; and Seneca, speaking of the Roman lads in olden days, says, "They were always on their feet, they were never taught anything which kept them sitting." Were they any the worse for it in manhood? Do not be afraid, therefore, of this so-called idleness. What would you think of a man who refused to sleep lest he should waste part of his life? You would say, "He is mad; he is not enjoying his life, he is robbing himself of part of it; to avoid sleep he is hastening his death." Remember that these two cases are alike, and that childhood is t ~ Jean-Jacques Rousseau

You know full well as I do the value of sisters' affections: There is nothing like it in this world. ~ Charlotte Bronte

The real issue relating to exclusiveness is whether or not the Christian actually has a relationship with God, a presence of God, which non-Christians do not have. Apart from Christian spiritual formation as described here, I believe there is little value in claiming exclusiveness for the Christian way. ~ Dallas Willard

Count the cost of your calling, find the value of your dream, and most of all find your place in His love. ~ Deborah Brodie

Middle age: when you begin to exchange your emotions for symptoms. ~ Irvin S. Cobb

What we call things matters ... The words we use, and how we perceive those words, reflect how we value, or devalue, people, places, and things. ~ Anna Quindlen

After a brief murmured exchange, the lady's maid opened the door a bit wider, and Phoebe's brother Ivo stuck his head inside.
"Hullo, sis," he said casually. "You look very nice in that gold dress."
"It's ecru." At his perplexed look, she repeated, "Ecru."
"God bless you," Ivo said, and gave her a cheeky grin as he entered the room.
Phoebe lifted her gaze heavenward. "Why are you here, Ivo?"
"I'm going to escort you downstairs, so you don't have to go alone."
Phoebe was so moved, she couldn't speak. She could only stare at the eleven-year-old boy, who was volunteering to take the place her husband would have assumed.
"It was Father's idea," Ivo continued, a touch bashfully. "I'm sorry I'm not as tall as the other ladies' escorts, or even as tall as you. I'm really only half an escort. But that's still better than nothing, isn't it?" His expression turned uncertain as he saw that her eyes were watering.
After clearing her throat, Phoebe managed an unsteady reply. "At this moment, my gallant Ivo, you tower above every other gentleman here. I'm so very honored."
He grinned and offered his arm in a gesture she had seen him practice in the past with their father. "The honor is mine, sis."
In that moment, Phoebe had the briefest intimation of what Ivo would be like as a full-grown man, confident and irresistibly charming. ~ Lisa Kleypas

The simple exchange of legal tender for goods and services
was there anything more elemental, yet more beautiful? Money. No matter what anyone said, it was the answer to everything. When it came down to it, there was no human interaction that wasn't, at its core, a transaction. ~ Don Lee

Good things happen to a team when a player takes the place where he adds the most value. Great things happen when all the players on the team take the role that maximizes their strengths - their talent, skill, and experience. ~ John C. Maxwell

The inspirational value of the space program is probably of far greater importance to education than any input of dollars ... A whole generation is growing up which has been attracted to the hard disciplines of science and engineering by the romance of space. ~ Arthur C. Clarke

All I really want to write about is what happened just before he left. But if I let myself start with that I might forget some of the things which came first. And every word he said is of deepest value to me. ~ Dodie Smith

The Cubs are a major league baseball team based in Chicago. Apparently, the team was once cursed by a goat and is doomed now to never win the World Series. The 71 seats [auctioned by the Chicago Board of Exchange] are adjacent to the Cubs' dugout on the third-base line. This is an unnecessary detail needed to give color to what would otherwise be a dull and uninspiring narrative. ~ Rakesh V. Vohra

As soon as laziness conquers a man, he will completely forget about the value of time. ~ Sunday Adelaja

Is it possible to preserve the element of Unknown Places in our national life? Is it practicable to do so, without undue loss in economic values? I say 'yes' to both questions. But we must act vigorously and quickly, before the remaining bits of wilderness have disappeared. ~ Aldo Leopold

In any new situation, whether it involves an elevator or a rocket ship, you will almost certainly be viewed in one of three ways. As a minus one: actively harmful, someone who creates problems. Or as a zero: your impact is neutral and doesn't tip the balance one way or the other. Or you'll be seen as a plus one: someone who actively adds value. Everyone wants to be a plus one, of course. But proclaiming your plus-oneness at the outset almost guarantees you'll be perceived as a minus one, regardless of the skills you bring to the table or how you actually perform. ~ Chris Hadfield

In financing growing companies, we always looked for human value that didn't appear on the balance sheet. ~ Michael Milken

In every interview I'm asked what's the most important quality a novelist has to have. It's pretty obvious: talent. Now matter how much enthusiasm and effort you put into writing, if you totally lack literary talent you can forget about being a novelist. This is more of a prerequisite than a necessary quality. If you don't have any fuel, even the best car won't run.The problem with talent, though, is that in most cases the person involved can't control its amount or quality. You might find the amount isn't enough and you want to increase it, or you might try to be frugal and make it last longer, but in neither case do things work out that easily. Talent has a mind of its own and wells up when it wants to, and once it dries up, that's it. Of course, certain poets and rock singers whose genius went out in a blaze of glory - people like Schubert and Mozart, whose dramatic early deaths turned them into legends - have a certain appeal, but for the vast majority of us this isn't the model we follow.
If I'm asked what the next most important quality is for a novelist, that's easy too: focus - the ability to concentrate all your limited talents on whatever's critical at the moment. Without that you can't accomplish anything of value, while, if you can focus effectively, you'll be able to compensate for an erratic talent or even a shortage of it. I generally concentrate on work for three or four hours every morning. I sit at my desk and focus totally on what I'm writing. I don't ~ Haruki Murakami

White people raised in Western society are conditioned into a white supremacist worldview because it is the bedrock of our society and its institutions. Regardless of whether a parent told you that everyone was equal, or the poster in the hall of your white suburban school proclaimed the value of diversity, or you have traveled abroad, or you have people of color in your workplace or family, the ubiquitous socializing power of white supremacy cannot be avoided. The messages circulate 24-7 and have little or nothing to do with intentions, awareness, or agreement. Entering the conversation with this understanding is freeing because it allows us to focus on how--rather than if--our racism is manifest. When we move beyond the good/bad binary, we can become eager to identify our racist patterns because interrupting those patterns becomes more important than managing how we think we look to others.

I repeat: stopping our racist patterns must be more important than working to convince others that we don't have them. We do have them, and people of color already know we have them; our efforts to prove otherwise are not convincing. An honest accounting of these patterns is no small task given the power of white fragility and white solidarity, but it is necessary. ~ Robin DiAngelo

Money represents your time, your energy, your talents, your total personality converted into currency. We usually hold on to it tenaciously, yet it is uncertain in value and we cannot take it into the next world. ~ Billy Graham

Remember to value who you are no matter what. Believe you are worth being loved and don't ever settle. ~ Leah DeCesare

Christ transforms the meaning and value of suffering from something to be feared or at best endured into something redemptive [and transformative]. ~ Peter Kreeft

We're all guilty of dedicating time to people who didn't value it. ~ Turcois Ominek

This is the arena in which a spiritualized disobedience means most. It doesn't mean a second New Deal, another massive bureaucratic attack on our problems. It doesn't mean taking to the streets, throwing bricks through the window at the Bank of America, or driving a tractor through the local McDonald's. It means living differently. It means taking responsibility for the character of the human world. That's a real confrontation with the problem of value. In short, refusal of the present is a return to what Thoreau and Ruskin called "human fundamentals, valuable things," and it is a movement into the future. This movement into the future is also a powerful expression of that most human spiritual emotion, Hope.
p.124 ~ Curtis White

Adversity, and perseverance and all these things can shape you. They can give you a value and a self-esteem that is priceless. ~ Scott Hamilton