These two kinds of value are possessed in varying degree by different goods. In some, the exchange value may be greater than the use value—as, for instance, when a change in productiveness in the community increases the quantity or improves the quality of things I can get in exchange, while the use value of things I can give in exchange remains unaltered: in others it may be less, as in all cases where habit and association root the goods in our affection. What has to be emphasised is, that the position which every man occupies as a member of society gives to all goods of personal use this other value, and that, as we saw on p. 37, whichever of the two valuations we place higher determines the total subjective value. In other words; there is, as we shall see later, a direct and an indirect satisfaction of wants, corresponding to the division of goods into consumption goods and production goods. Just as grain may be used for bread or for seed, and just as the value of the grain is determined by calculations of marginal utility which take both bread and seed into account as possible uses, so has every good, subjectively considered, a use value and an exchange value, and the total subjective value is calculated on the consideration of both of these as possible uses of the good. On the other side, there is no doubt that the analysis of exchange value into subjective and objective is subtle, and that it is difficult to keep the two distinct. The real difference may be most easily seen by an illustration. Say that the first edition of _Modern Painters_, which cost me £18 some years ago, now stands in the booksellers’ catalogues at £30. It may be assumed that my pleasure, as a cultured man, in the possession of this first edition is measured by something like £30. But suppose I now suffer a reverse of fortune. The subjective use value of the book remains as before: the objective exchange value also remains as before: but the _subjective exchange_ value has immensely risen. In my former circumstances the price of £30 was a bagatelle: now it may perhaps pay my insurance premium: this second subjective value is distinct alike from subjective use value and objective exchange value.