Marginal Utility and Marginal Disutility as Ultimate Standards of Value

Abstract

The current theory of value fails to take account of inequality, 547. — Value as a “ratio in exchange” to be qualified, 549. — Utility as the ultimate standard of value, 552. — Disutility as the ultimate standard; labor, 557. — The sacrifices of capitalists, 560. — The valuation of services, 462. — Non-competing groups, 569. — Conclusion: The ultimate standard of value does not exist in a modern society, 575.