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Cost the limit of price
・ Cost to company
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Cost the limit of price : ウィキペディア英語版
Cost the limit of price

Cost the limit of price was a maxim coined by Josiah Warren, indicating a (prescriptive) version of the labor theory of value. Warren maintained that the just compensation for labor (or for its product) could only be an equivalent amount of labor (or a product embodying an equivalent amount).〔In ''Equitable Commerce'', Warren writes, "If a priest is required to get a soul out of purgatory, he sets his price according to the value which the relatives set upon his prayers, instead of their cost to the priest. This, again, is cannibalism. The same amount of labor equally disagreeable, with equal wear and tear, performed by his customers, would be a just remuneration〕 Thus, profit, rent, and interest were considered unjust economic arrangements. As Samuel Edward Konkin III put it, "the labor theory of value recognizes no distinction between profit and plunder."〔Wendy McElroy, "(Individualist Anarchism vs. "Libertarianism" and Anarchocommunism )," in the ''New Libertarian'', issue #12, October, 1984.〕
In keeping with the tradition of Adam Smith's ''The Wealth of Nations'',〔Smith writes: "The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it." Note, also, the sense of "labor" meaning "suffering."〕 the "cost" of labor is considered to be the subjective cost; i.e., the amount of suffering involved in it.〔
== Development ==

The principle was set forth in Warren's ''Equitable Commerce'' (among other writings) and has been called a "mainstay of 19th century individualist anarchism."〔 It was further advocated and popularized by Benjamin Tucker in his individualist anarchist periodical ''Liberty'', and in his books. Tucker explained it so:
Warren put his principle into practice in 1827 by establishing an experimental "equity store," called the Cincinnati Time Store, where trade was facilitated by notes backed by a promise to perform labor. This scheme was exactly that advocated by Pierre Proudhon some years later under the name ''mutuellisme''; however, it is believed that Proudhon developed his ideas independently.〔Peter Kropotkin, "(Anarchism )," from the Encyclopaedia Britannica, 1910〕

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