Principles of Political Economy, Vol. 1 — John Shaqi
Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
C. _Relations_ to persons or things which may frequently be estimated just
as accurately as material goods. (The _res incorporales_ of the Roman
law.) I need only mention what is called good-will, which freely, and to
the advantage of customers themselves, but still with a limited amount of
certainty, attaches to certain localities, and for which tavern-keepers,
sometimes, as in theaters, dépôts and clubs, pay so enormous a rent.(69)
When a newspaper is sold, the purchaser frequently buys nothing but the
existing relations between his colaborers, subscribers etc. No small part
of the value of a good business firm consists in the confidence with which
it inspires all who deal with it, thus sparing them a world of care and
trouble.(70) A general may be of incalculable value to an army which he
has himself helped organize. In another, or in the service of a country
not his own, he might be entirely valueless, incapable of accomplishing
anything.(71) With the progress of civilization, as man becomes more
social, the number of valuable relations increases, while that of
legalized monopolies is wont to decrease. (_Schäffle._)(72)
Section IV.
Of Value.—Value In Use.
The economic value of goods is the importance they possess for the
purposes of man, considered as engaged in economy (housekeeping,
husbandry.(73))
Looked at from the point of view of the person who wishes to employ them
in his use directly, doubtless the oldest point of view, value appears
first as value in use; and here, according to the difference of subjective
purposes it is intended to subserve, we may speak of production value or
enjoyment-value; and of this last, in turn, as utilization-value, or
consumption-value. The value in use of goods, is greater in proportion as
the number of wants they are calculated to satisfy are more general and
more urgent, and in proportion as they are gratified by them more fully,
surely, durably, easily and pleasantly.(74) Hence, it is seldom possible
to find an accurate mathematical expression of the relation which exists
between the value in use of different goods.(75) Thus, it is possible to
estimate the nutritive power of different kinds of goods, the value of
wheat or of hay for instance, but not the goodness or quality of their
taste, of the attractiveness of their appearance, etc.
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