The word VALUE has two different meanings and sometimes expresses the usefulness of a specific item, while at other times it signifies the ability to purchase other goods that ownership of this item allows. The former could be called use value and the latter exchange value.

Things that have the greatest use value often have little or no exchange value. Nothing is more useful than water: but with it, we can exchange very few things. On the other hand, a diamond has minimal use value; however, we can easily exchange it for a large amount of other goods.

In order to explore the principles that regulate the exchangeable value of commodities, we will try to show: First, what the real measure of this exchangeable value is, or what constitutes the real price of all commodities. Second, what the various parts that make up this real price are. And finally, what the real circumstances are that sometimes increase certain parts or the total of the above price parts and sometimes compress them below their natural or normal level.

Or, what are the causes that sometimes prevent the coincidence of the market price, that is, the real price of commodities, with what we might call their natural price.