measure of value

See: money
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We try to show that for Smith the labour has a double role -as source and measure of value-, and that to it is due the confusion that generates his use of some terms: Smith proposes labour as a measure of value because he conceives it as a source of value.
Does he consider it an external measure of value or numeraire, as can be gold or silver, or does he consider it (as Ricardo or Marx do) the foundation, the original source, the substance of value?
Return on customer (ROC) can be expressed as a mathematical equation, but to the authors, it's a measure of value creation--and a key metric to drive decisions about a host of business issues, including financial reporting and business combinations.
Critics have pointed to shortcomings in the embedded value methodology and question whether it is really the true best measure of value.
As a result, the bid price may not be a true measure of value.
This is true despite the fact that this linkage turned out to be less strict than Ricardo wished because of the qualifications, which he himself mostly recognized |Blaug, 1966; Schumpeter, 1963; Stigler, 1958~, to both his embodied labor theory of the determinant of relative price |Caravale, 1985, 1988; Johnson, 1984, 1991~ and his theory of the measure of value |Caravale and Tosato, 1980~.