Browsing Revolt Library By Tag : laws of labor

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Proudhon, Pierre Joseph. System of Economical Contradictions: or, the Philosophy of Misery Electronic Text Center, University of Virginia Library 3. -- Application of the law of proportionality of values. Every product is a representative of labor. Every product, therefore, can be exchanged for some other, as universal practice proves. But abolish labor, and you have left only articles of greater or less usefulness, which, being stamped with no economic character, no human seal, are without a common measure, -- that is, are logically unexchangeable. Gold and silver, like other articles of merchandise, are representatives of value; they have, therefore, been able to serve as common measures and mediums of exchange. But the special function which custom has allotted to the precious metals, -...

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