ABSTRACT
The attribute of normal or usual value implies systematic and continuous production. Normal values, though, in contrast with market values, they may not improperly be described as average or permanent values, must not be supposed to represent any thing absolutely fixed or constant in the exchange relation of commodities. Cost of production is undoubtedly the principal and most important of the conditions on which normal value depends. The indispensable condition to the action of cost of production as the regulator of normal values is thus the existence of an effective competition among those engaged in industrial pursuits. The existence of a large amount of capital in commercial countries in disposable form is a patent and undeniable fact.
