Eric Roll, Baron Roll of Ipsden: Value

Eric Roll, Baron Roll of Ipsden was British economist. Explore interesting quotes on value.
Eric Roll, Baron Roll of Ipsden: 48 quotes0 likes

“Utility alone is the cause of value.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter VIII, Modern Economics, p. 400

“Aristotle laid the foundation of the distinction between use-value andexchange-value, which has remained a part of economic thought to the present day.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter I, The Beginnings, p. 34-35

“The physiocrats started a train of thought which was a powerful stimulus to the development of a labour theory of value and surplus value. They did not, however develop such a theory of value themselves. What attention they gave to the problem of exchange-value and price produced results of an altogether different character. Thus while one of their contributions finds its continuation in Smith, Ricardo, and Marx, the other leads to the post-classical supply and demand and utility theories of value.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter III, The Founders Of Political Economy, p. 135

“The second difficulty inherent in the contradictory character of the commodity is this: a commodity must have use value, but not for its owner, for if it had, it would cease to be a commodity.”

Eric Roll, Baron Roll of Ipsden

Source: A History of Economic Thought (1939), Chapter VI, Marx, p. 266