Note 227 — THOMAS ROBERT MALTHUS. (continued 4)
Reading edition
'Real value in exchange may be defined to be the power of an object to command in exchange the necessaries and conveniences of life, including labour,' Malthus, Pol. Econ. (1820), p. 62. 'Wages are to be estimated by their real value, namely, by the quantity of labour and capital employed in producing them,' Ricardo, Pol. Ec. 2nd ed. 1819, p. 44, Wks., p. 32.