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PostSubject: While Cantillon   Sat Oct 30, 2010 8:17 am

Differences between prior mercantilists and Cantillon arise early in Essai, regarding the origins of wealth and price formation on the market.[56] Cantillon distinguishes between wealth and money, considering wealth in itself "nothing but the food, conveniences, and pleasures of life."[57] While Cantillon advocated an "intrinsic" theory of value, based on the input of land and labor (cost of production),[58] he is considered to have touched upon a subjective theory of value.[59] Cantillon held that market prices are not immediately decided by intrinsic value, but are derived from supply and demand.[60] He considered market prices to be derived by comparing supply, the quantity of a particular good in a particular market, to demand, the quantity of money brought to be exchanged.[61] Believing market prices to tend towards the intrinsic value of a good, Cantillon may have also originated the uniformity-of-profit principleŚchanges in the market price of a good may lead to changes in supply, reflecting a rise or fall in profit.[62]

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