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the UK from 1925 to 1932) and in effect in the 1960s.<br /><em>See also:</em> dollar standard; gold bullion standard
Bailey, Samuel, 1791-1870 (B3)<br />A major opponent of the Ricardian theory of value, mainly known for his A Critical Dissertation on the Nature, Measures and Causes of Value: Chiefly in Reference to the Writings of Mr Ricardo and his Followers (1825) in which he equated value with 'esteem' and emphasized its essentially relative nature. In his attack on intrinsic and labour theories of value, he stressed the importance of the forces of supply and demand as determinants of relative value. His entire career was spent on the Sheffield Town Trust (a quasi-governmental agency), although he stood for election to parliament in 1832 and 1835.<br /> <br /><em>Reference</em><br />Bailey, S. (1825, reprinted 1931) Critical Dissertation on the Nature, Measures, and Causes of Value: Chiefly in Reference to the Writings of Mr Ricardo and his Followers, London: Series of Scarce Tracts in Economic and Political Science, No. 7.<br /> Rauner, R.M. (1961) Samuel Bailey and the Classical Theory of Value, London: G. BelL Seligman, E.R.A. (1905) 'On some neglected British economists', Economic Journal13: 335-63, 511-35.
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<strong>OFee</strong> – Origination Fee, a fee charged to offset the federal government' s cost of interest subsidies (for subsidized Federal Stafford Loans) and reinsurance payments for loans that either default or are eligible for forgiveness or discharge. This fee, if charged to the borrower, may be subtracted from the borrower' s loan proceeds at the time of disbursement.
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