A Quote by David Ricardo
In comparing therefore the value of the same commodity, at different periods of time, the consideration of the comparative skill and intensity of labour, required for that particular commodity, needs scarcely to be attended to, as it operates equally at both periods.
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The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities. The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
In reality, every single negotiation involves another commodity that's far more important to us, which is time - minutes, hours, our investment in time. So even if you're talking about dollars, the commodity of time is always there because there has to be a discussion about how the commodity of dollars is moved.
If the quantity of labour realized in commodities, regulate their exchangeable value, every increase of the quantity of labour must augment the value of that commodity on which it is exercised, as every diminution must lower it.
We cannot tell by looking at the diamond that it is a commodity. When it serves as a use-value, asthetic or mechanical, on the breast of a harlot, or in the hand of a glasscutter, it is a diamond and not a commodity.
Looting is a natural response to the unnatural and inhuman society of commodity abundance. It instantly undermines the commodity as such, and it also exposes what the commodity ultimately implies: the army, the police and the other specialized detachments of the state's monopoly of armed violence.
I look at Rafa Benitez in his time at Liverpool, he had difficult periods and the same goes for Brendan Rodgers in the same job now. These difficult periods come and you have to accept that.
I look at Rafa Benitez in his time at Liverpool, he had difficult periods and the same goes for Brendan Rodgers in the same job now. These difficult periods come and you have to accept that. I did as well as I could at Newcastle.
Like Picasso, I go through blue periods, green periods, or grey periods.
A record is a commodity, but so is a hamburger. Just because I work at McDonald's doesn't mean I reap the benefits of that commodity. That's the reality with most artists in the record industry: They're getting paid a subsistence wage so they can keep producing a commodity for the record label.
Labor, being itself a commodity, is measured as such by the labor time needed to produce the labor-commodity. And what is needed to produce this labor-commodity? Just enough labor time to produce the objects indispensable to the constant maintenance of labor, that is, to keep the worker alive and in a condition to propagate his race. The natural price of labor is no other than the wage minimum.
I had long periods where I couldn't make things happen, and then periods of enormous good luck. I guess the trick is to keep going in the periods when you're not lucky, when your stars are not aligned.
Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work. And that is a very good thing. The fact that our value approach doesn't work over periods of time is precisely the reason why it continues to work over the long term.
A commodity doesn't have the same characteristics as a security, characteristics that allow for analysis. Other than a recent sale or appreciation due to inflation, analyzing the current or future worth of a commodity is nearly impossible.
The History of the world is not the theatre of happiness. Periods of happiness are blank pages in it, for they are periods of harmony--periods when the antithesis is in abeyance.
The best taxes are such as are levied upon consumptions, especially those of luxury; because such taxes are least felt by the people. They seem, in some measure, voluntary; since a man may choose how far he will use the commodity: They naturally produce sobriety and frugality, if judiciously imposed: And being confounded with the natural price of the commodity, they are scarcely perceived by the consumers. Their only disadvantage is that they are expensive in the levying.
Labour is not a commodity.
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