Saturday, May 28, 2005
Value is not an attribute of matter, but represents our sense of its usefulness and this utility is relative to our need. It grows or diminishes according as our need expands or contracts. But since the value of things is based upon need, it is natural that a more keenly felt need should endow things with a greater value, while a less urgent need endows them with less. Value increases with scarcity and diminishes with plenty.
-- Etienne Bonnot de Condillac, La Commerce et le Gouvernement
Considérés realtivement l'un à l'autre [1776]
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