Page:Indian Journal of Economics Volume 2.djvu/660

 to point out th&t value w&s not &n inherent property of any object wh&tsoever, but it could only &rise when there w&s s, dems, nd for the ood by hums, n beings. He tells us th&t "All metals, ems, c&ttle, food articles, clothes, etc., up to r&sses, &re included .in the e&tegory of wl!, but even gold, etc., e&n h&ve no v&lue. They &equire v&lue only when they &re employed for any human purpose." Sctrcit--The element of scarcity has no less clearly been recognized by Sukr&. "The price of the most lovely ones, "writes he, "is to be determined by fancy. The price of very fine things is not to be determined by weight. Those which are rare in this world are priced as Gems." (IV. 2. 8811. Now it should be borne in mind that having once emphasized the fundamental principle of no value without utility, Sukr& has stated that rare things-- difficult of &ttsinment and scarce relatively to human wants--have very high prices. He has also &dyerted to the most important point of the fancy prices. The Sanskrit words used by Sukr& are: Aty&nt&-r&m&priy&n&m, of the most lovely. Durl& (]h&nam, of things difficult. to acquire. Atigun&shalin&m, of goods possessing & very great excellence. K&m&t&h, according to desire of fancy. Happily Sukr& above mentioned "Prices of. goods are high or low-- has himself expressly root-ideas iu another stated according without as they are e8,88 the pssse thus: &tt&in&ble (b) &eeording as they do )r do not possess use value--power to satisfy human wants, (c) according to the value set upon them by human beings--human fancies." (H. 85?)