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CHAPTER III VALUE AND MARGINAL UTILITY

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Individualistic method of Jevons and the Austrians—Such a method, applied to value problem in concrete social life, yields, not quantities of value, but rather, particular ratios between such quantities—Value cannot be identified with marginal utility of a good to a marginal individual, even though we assume the commensurability and homogeneity of human emotions—Clark's Law 28

Social Value: A Study in Economic Theory, Critical and Constructive

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