The great mass of commodities is intermediate in its character
between these two extremes, and the periods of respective
duration are very various. It is evident that the average price
of those things which are consumed in the act of using them, can
never be less than that of the labour of bringing them to market.
They may for a short time be sold for less, but under such
circumstances their production must soon cease altogether. On the
other hand, if an article never wears out, its price may continue
permanently below the cost of the labour expended in producing
it; and the only consequence will be, that no further production
will take place: its price will continue to be regulated by the
relation of the supply to the demand; and should that at any
aftertime rise, for a considerable period, above the cost of
production, it will be again produced.
198. Articles become old from actual decay, or the wearing
out of their parts; from improved modes of constructing them; or
from changes in their form and fashion, required by the varying
taste of the age. In the two latter cases, their utility is but
little diminished; and, being less sought after by those who have
hitherto employed them, they are sold at a reduced price to a
class of society rather below that of their former possessors.
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