‹Value› consists in the comparative appreciation of reciprocal
services, 73.
Does not reside in material substances, as represented by Smith,
91.
Vague definition of, 108.
Value represents effort, 109.
Theory of value, 131.
As essential to Political Economy as numeration is to
arithmetic, ‹ib.›
Value has a tendency to diminish in relation to utility, 132.
Does not extend to the co-operation of nature, but is restricted
exclusively to human efforts, 134.