“Value denotes a relation reciprocally existing between two objects, and the precise relation which it denotes is the quantity of the one which can be obtained in exchange for a given quantity of the other.”
Quote by Nassau William Senior
Work
An Outline of the Science of Political Economy
This book provides an in-depth exploration of the fundamental concepts and theories within the field of political economy, including economic systems, market dynamics, and policy implications. more
Author
Nassau William Senior
Nassau William Senior was a prominent British economist born on September 26, 1790, and died on June 4, 1864. He made significant contributions to the field of economics, particularly in labor theory of value and tax theory. more
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