Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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DEMAND 6i value is not conceivable as a quantity, or at most is barely conceivable as a quantity, whereas economic values are conceivable as quantities and are moreover measurable. 1 It is true that the thorough-going Utilitarians thought of absolute, value as a quantity— as a simple sum of economic values viewed as atoms of pleasure, or whatever else they liked to call the feeling elements which in their philosophy they treated arithmetically—but once the atomistic view of experience is departed from, and economic value becomes merely the expression of preferential relations, absolute value is shifted on to a plane of its own where measurement may be impossible. For what after all are the economic values ? It has been laid down above that they repre sent no more than preferences. Now these preferences have their origin in our implicit notions of absolute value and mean no more than relative degrees of imagined conduciveness to this absolute value. And evidently the thing to which economic goods conduce cannot be measured against the means by which it is brought about, if these 1 My colleague, Professor Unwin, suggested to me the significance of this point, particularly in relation- to the seeming conflict between economic and idealistic points of view,

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