Value, conceived as the proportionality of products, otherwise
called CONSTITUTED VALUE, necessarily implies in an equal degree
UTILITY and VENALITY, indivisibly and harmoniously united. It
implies utility, for, without this condition, the product would
be destitute of that affinity which renders it exchangeable, and
consequently makes it an element of wealth; it implies venality,
since, if the product was not acceptable in the market at any
hour and at a known price, it would be only a non-value, it would
be nothing.

But, in constituted value, all these properties acquire a
broader, more regular, truer significance than before. Thus,
utility is no longer that inert capacity, so to speak, which
things possess of serving for our enjoyments and in our
researches; venality is no longer the exaggeration of a blind
fancy or an unprincipled opinion; finally, variability has ceased
to explain itself by a disingenuous discussion between supply and
demand: all that has disappeared to give place to a positive,
normal, and, under all possible circumstances, determinable idea.

By the constitution of values each product, if it is allowable to
establish such an analogy, becomes like the nourishment which,
discovered by the alimentary instinct, then prepared by the
digestive organs, enters into the general circulation, where it
is converted, according to certain proportions, into flesh, bone,
liquid, etc., and gives to the body life, strength, and beauty.

Now, what change does the idea of value undergo when we rise from
the contradictory notions of useful value and exchangeable value