Though it is questionable whether we can apply the theory of final equivalence of utility and disutility directly and in an unmodified form to all kinds of social value, we still find generally that each individual in society values his personal consumption goods substantially in the same manner as Crusoe. Under the division of labor, the individual does not produce his own consumption goods, but renders certain productive services to society for which he receives remuneration in the shape of a money income. Money income may also be derived from capital acquired at the cost of abstinence on the part of the individual receiving it. But again, it may as well be the result of gift or inheritance, in which case it represents no subjective cost to the recipient. When a dollar costs a man subjective sacrifice to acquire it, and the dollar is spent for a commodity, this commodity thus indirectly costs that sacrifice. The commodity is bought by the consumer because it possesses esteem value. It derives this esteem value from the satisfaction conditioned by it, but this value may well be carried in mind by the consumer in terms of his own subjective cost. Crusoe spends units of disutility, as it were, to obtain from nature certain utilities; the man under social conditions spends dollars, which may represent disutility, to obtain utilities from the social warehouse. Professor Clark’s theory of “effective disutility” as the measure of value may be applied to the individual economy within society as well as to the individual economy in isolation.