Difference between revisions of "Units of Value"

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This is an arbitrary measurement of value that allows the appraisal of goods to be consistent with variable currencies.
 
This is an arbitrary measurement of value that allows the appraisal of goods to be consistent with variable currencies.
  
One uV equals the wages of one peasant's day's work. This is assuming an eight-hour day. Thus a uV can be split up into eight units each representing an hour of work.
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One uV equals the wages of one peasant's day's work. This is assuming an eight-hour day. Thus a uV can be split up into eight units each representing an hour of work. Splitting them up further than this is not possible, thought one might be able to make two spoons, for example, in a single hour.

Revision as of 22:00, 31 May 2010

This is an arbitrary measurement of value that allows the appraisal of goods to be consistent with variable currencies.

One uV equals the wages of one peasant's day's work. This is assuming an eight-hour day. Thus a uV can be split up into eight units each representing an hour of work. Splitting them up further than this is not possible, thought one might be able to make two spoons, for example, in a single hour.