The Theory of Value Before Adam Smith

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On Galiani see A. Dubois, L/es theories psychologiques de la valeur on xviii e siecle, in Revue d economic politique, Sept. And Oct. , 1897. The last number contains a translation into French of that part of Galiani s work relating to value. See also Graziani, p. 99.
* Valeur et monnaies, Oeuvres, vol. I, p. 75-93.
8 Daire, Notice historique sur Turgot, Oeuvres, vol. I, p. 45.
635] Value and Economic Science Before i Jj6. 97 valescence. The words valoir and valeur have in common usage a sense d
...ifferent from that which they have in commerce, but which is nevertheless the basis of the latter. " It (valoir) expresses that goodness relative to our needs by which goods and gifts of nature are regarded as adapted to our enjoyment, to the satisfaction of our desires. One says that a stew is worth nothing when it is bad to the taste The adjectives bad, mediocre, good, excellent, characterize the different de grees of this kind of value Although this goodness may be always relative to us, we have never theless in view, in explaining the word value, a real quality, intrinsic to the object and by which it is suited to our usage.

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