Full text : Political economy

POLITICAL  ECONOMY

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means  are  not  measurable  absolutely  but
only  in  relation  to  one  another.  Here,  it
may  be  pointed  out,  is  to  be  found  an  explanation ­
  of  the  indeterminate  value  of  initial
increments  of  indispensable  goods.  Whenever ­
  a  means  to  the  end  which  gives  the
impulses  measured  in  demand—the  end  consisting, ­
  as  has  been  said,  in  harmonious
living  according  to  some  standard—whenever
such  a  means  is  absolutely  indispensable,  it
ceases  to  have  the  property  of  relative  conduciveness ­
  and  its  measurement  becomes
impossible.  These  points  are  worth  a  fugitive
notice  for  the  sake  of  the  student  with  a
philosophical  bent,  but  it  must  be  understood
that,  inasmuch  as  the  economist  qua  economist
need  not  go  behind  preferences,  no  dogmatic
pronouncements  on  philosophical  issues  are
here  intended.
            
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