Memorials and Other Papers — Volume 2De Quincey, Thomas
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Memorials and Other Papers — Volume 2
De Quincey, Thomas
English essays
_Phil_. Yes, but I have provided against _that_; for by C I
mean any assignable thing which has _not_ altered its own value. I
assume C to be stationary in value.
_X_. In that case, Philebus, it is undoubtedly true that no
absurdity follows from the inversion of the proposition as it is
expressed by you. But then the short answer which I return is this:
your thesis avoids the absurdity by avoiding the entire question in
dispute. Your thesis is not only not the same as that which we are now
discussing; not only different in essence from the thesis which is
_now_ disputed; but moreover it affirms only what _never_ was
disputed by any man. No man has ever denied that A, by doubling its own
value, will command a double quantity of all things which have been
stationary in value. Of things in that predicament, it is self-evident
that A will command a double quantity. But the question is, whether
universally, from doubling its value, A will command a double quantity:
and inversely, whether universally, from the command of a double
quantity, it is lawful to infer a double value. This is asserted by
Adam Smith, and is essential to his distinction of nominal and real
value; this is peremptorily denied by us. We offer to produce cases in
which from double value it shall not be lawful to infer double
quantity. We offer to produce cases in which from double quantity it
shall _not_ be lawful to infer double value. And thence we argue,
that _until_ the value is discovered in some other way, it will be
impossible to discover whether it be high or low from any consideration
of the quantity commanded; and again, with respect to the quantity
commanded--that, _until_ known in some other way, it shall never
be known from any consideration of the value commanding. This is what
we say; now, your "C" contradicts the conditions; "_until_ the
value is discovered in some other way, it shall never be learned from
the quantity commanded." But in your "C" the value is already
discovered; for you assume it; you postulate that C is stationary in
value: and hence it is easy indeed to infer that, because A commands
double quantity of "C," it shall therefore be of double value; but this
inference is not obtained from the single consideration of double
quantity, but from _that_ combined with the assumption of
unaltered value in C, without which assumption you shall never obtain
that inference.
_Phæd_. The matter is clear beyond what I require; yet, X., for
the satisfaction of my "game" friend Philebus, give us a proof or two
_ex abundanti_ by applying what you have said to cases in Adam
Smith or others.
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