Summary

Portrait of John Stuart Mill John Stuart Mill,  Index of the Project Gutenberg Works of John Stuart Mill

“ The values of foreign commodities depend, not upon Cost of Production, but upon Reciprocal Demand and Supply. § 3. -As illustrated by trade in cloth and linen between England and Germany. § 4. The conclusion states in the Equation of International Demand. § 5. The cost to a country of its imports depends not only on the ratio of exchange, but on the efficiency of its labor. Chapter XV. Of Money Considered As An Imported Commodity. § 1. Money imported on two modes; as a Commodity, and as a medium of Exchange. § 2. As a commodity, it obeys the same laws of Value as other imported Commodities. ”
Source: Gutenberg

Portrait of John Stuart Mill John Stuart Mill,  Index of the Project Gutenberg Works of John Stuart Mill

“ Cost of Production properly represented by sacrifice, or cost, to the Laborer as well as to the Capitalist; the relation of this conception to the Cost of Labor. § 5. When profits vary from Employment to Employment, or are spread over unequal lengths of Time, they affect Values accordingly. § 6. Occasional Elements in Cost of Production; taxes and ground-rent. Chapter III. Of Rent, In Its Relation To Value. § 1. Commodities which are susceptible of indefinite Multiplication, but not without increase of Cost. Law of their Value, Cost of Production in the most unfavorable existing circumstances. ”
Source: Gutenberg

Portrait of John Stuart Mill John Stuart Mill,  Index of the Project Gutenberg Works of John Stuart Mill

“ The Rate of Interest not really Connected with the value of Money, but often confounded with it. § 5. The Rate of Interest determines the price of land and of Securities. Chapter XX. Of The Competition Of Different Countries In The Same Market. § 1. Causes which enable one Country to undersell another. § 2. High wages do not prevent one Country from underselling another. § 3. Low wages enable a Country to undersell another, when Peculiar to certain branches of Industry. § 4. -But not when common to All. § 5. Low profits as affecting the carrying Trade. ”
Source: Gutenberg

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