Object: The nature of capital and income

  
    
Sec. 4] PSYCHIC INCOME 169 
Nor is it necessary to take sides in the controversies re- 
garding the relations between mind and body. We are 
not concerned with cause and effect, but with means and 
end, and, whatever may be the causation of mental states, 
the human body is certainly the means by which the good 
from external wealth is finally communicated to the con- 
sciousness of the owner. 
§4 
The two kinds of final income, the physical and the 
psychical, or the objective and subjective, are both legiti- 
mate in their proper spheres. Usually the physical and 
psychical income are equal to each other in value. A loaf 
of bread which yields ten cents’ worth of services presumably 
gives ten cents’ worth of immediate satisfaction. When one 
enjoys a musical concert worth one dollar, it does not matter 
whether we say that the services of the musicians in pro- 
ducing vibrations are worth one dollar, or the enjoyment 
which these vibrations occasion in the mind is worth this 
sum. When rent is paid for a house, this is generally 
taken to measure also the subjective comfort obtained 
through it. : 
Nevertheless, there are several points at which the valua- 
tions of subjective and objective income are different, and 
three of these are sufficiently important to emphasize. 
The first case is that in which the transformation within 
the body takes a long time. Here the two species of in- 
come do not correspond. For instance, the instruction 
received by an apprentice in preparation for his trade is a 
service rendered to him in the training of his body in manual 
dexterity, in order that, a few years later, this manual 
dexterity may increase his income-earning power. Ap- 
but pain,’ she continually said in her letters, “makes my life support- 
able.’” Bougand, Hist. de la bienheureuse Marguerite Marie, Paris, 
1894, pp. 171, 265. Cf. also pp. 386, 387. Quoted from William 
James, Varieties of Religious Experience, 1902, p. 310. 
   
  
  
    
    
   
    
  
  
  
  
  
  
  
  
  
    
    
	        
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