Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
86 In France, according to _Cordier_ (Mémoire sur l’Agriculture de la
Flandre Française), the wheat harvest yielded, in
1817, forty-eight million hectolitres, with a value in exchange of
two thousand and forty-six million francs; in
1818, fifty-three million hectolitres, with a value in exchange of
one thousand and four hundred and forty-two million francs; in
1819, sixty-four million hectolitres, with a value in exchange of
one thousand and one hundred and seventy million francs.
A rise in the value in exchange of wheat, such as was witnessed in
1817, is synonymous with a decline in the value in exchange of
money, and of all those goods whose money price has not risen. It is
no objection to the views here advocated, that when the necessaries
of life are very scarce, the want of clothing, furniture, articles
of luxury etc., is not felt so keenly as at other times, and that
the value in use of these commodities really falls; and _vice
versa_.
87 Compare _B. Hildebrand_, N. Œkonomie der Gegenwart und Zukunft,
1848, I, p. 316 ff. _Knies_, loc. cit.
88 The greater importance attached, in our days, to value in exchange,
than to value in use, is seen especially in the attitude which the
buyer, who is possessed of the more current commodity (money),
assumes toward the seller,—an attitude not unlike that of a patron
towards his client. In the interior of Africa, the possessor of
money, as such, would scarcely look down on the possessor of the
means of subsistence. The South American Indians are ready to render
an amount of service for a little brandy, which it would be in vain
to ask them to perform for ten times its value in gold. (Ausland,
Jan. 15, 1870.) The miser estimates the possibility of being able to
procure for himself, for one dollar, a hundred different articles
worth a dollar each, to be worth one hundred dollars.
89 When the wants of a person or of a people change, it is possible for
the value in use of one kind of goods, which had the greater
prominence before, to take the place occupied previously by its
value in exchange; and _vice versa_. Thus, the youth sells the
plaything he used in childhood; the man, the educational apparatus
of his earlier years; the old man, the implements that enabled him
to acquire wealth, and which he can no longer use except with great
effort. (_Menger_, Grundsätze, I, 220 ff.)
_ 90 Rau_ (Lehrbuch, I, § 61 ff.) distinguishes between the concrete or
quantitative value which a certain kind of goods may have for a
certain person, under certain circumstances, and the abstract or
species-value which a whole class of commodities may have for men in
general.
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