Note 7 — THE PRECONCEPTIONS OF ECONOMIC SCIENCE[1]

E.g., Book I, chap. vii: "When the price of any commodity is neither more nor less than what is sufficient to pay the rent of the land, the wages of the labor, and the profits of the stock employed in raising, preparing, and bringing it to market, according to their natural rates, the commodity is then sold for what may be called its natural price." "The actual price at which any commodity is commonly sold is called its market price. It may be either above, or below or exactly the same with its natural price."