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- Title
THE CONCEPT OF VALUE FURTHER CONSIDERED.
- Authors
Anderson, Jr., B. M.
- Abstract
The article author comments on an article by economist J.M. Clark about the concept of value. The author concurs with Clark in the view that it is well to divorce as far as possible the terminological, formal, and logical aspects of the question from the more important questions of causation. He focuses his attention to arguments drawn from considerations of logic and scientific method, rather than to arguments based on his own general theory of value. That the two problems cannot be entirely divorced, however, is well enough illustrated in Clark's own paper. The history of prices, and the settled habits of exchange, do not seem to the author particularly significant elements out of which to construct a theory of value. More commonly the doctrine has its roots in geometrical conceptions. Values are treated like spatial magnitudes, which are measured by comparison with other spatial magnitudes, and the argument for the relativity of values runs on all fours with the argument for the relativity of space. The proposition that one should not know that such a change had been made, that such a change would make no difference in the relations among things, is true only so long as one confines attention to the purely geometrical qualities of things.
- Subjects
VALUE (Economics); CLARK, J. M.; SOCIOECONOMICS; ECONOMISTS; PRICES; COST
- Publication
Quarterly Journal of Economics, 1915, Vol 29, Issue 4, p674
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1883304