CHAPTER II.
OF VALUE.
% 1.--Opposition of value in USE and value in EXCHANGE.
Value is the corner-stone of the economic edifice. The divine
artist who has intrusted us with the continuation of his work has
explained himself on this point to no one; but the few
indications given may serve as a basis of conjecture. Value, in
fact, presents two faces: one, which the economists call value in
USE, or intrinsic value; another, value in EXCHANGE, or of
opinion. The effects which are produced by value under this
double aspect, and which are very irregular so long as it is not
established,--or, to use a more philosophical expression, so long
as it is not constituted,--are changed totally by this
constitution.
Now, in what consists the correlation between USEFUL value and
value in EXCHANGE? What is meant by CONSTITUTED value, and by
what sudden change is this constitution effected? To answer
these questions is the object and end of political economy. I
beg the reader to give his whole attention to what is to follow,
this chapter being the only one in the work which will tax his
patience.
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