Essentials of Economic Theory: As Applied to Modern Problems of Industry and Public PolicyClark, John Bates
General
Essentials of Economic Theory: As Applied to Modern Problems of Industry and Public Policy
Clark, John Bates
Economics
[1] In the economic sense consumption is the utilization
rather than the destruction of the thing consumed, though
many things go rapidly to destruction in the process. Food is
destroyed in the moment of using; clothing perishes more
slowly by use, and furniture and dwellings more slowly still.
Some things that go gradually to destruction during the
process of utilization do not perish the more rapidly because
of it. A vase, a statue, or a picture is consumed, in the
economic sense, by a person's act of looking at it and
getting pleasure from it; but this does not hasten its
deterioration except as keeping such an ornament where it can
be seen exposes it to deterioration or accident. Climbing a
hill to get a view "consumes" the hill in a true sense, and
looking from the summit over a wide stretch of picturesque
country even consumes--that is, utilizes--the landscape; and
certainly this act does not injure the thing utilized. The
general fact, however, that goods for final use are, as a
rule, injured or destroyed either by the act of consumption
or by the exposures that are incidental to it, justifies the
use of this term to express the receiving of a service from
the usable article. It is a process in which the commodity
acts on men's sensibilities and, as a general rule, exhausts
itself while so doing. It is worth remembering that this
exhaustion of the good is not the essential part of
consumption. On the man's side that consists in deriving
benefits from the good, while on the side of the good itself
it consists in conferring benefit on the man--in doing him
good and not in doing itself harm.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account