Social Value: A Study in Economic Theory, Critical and ConstructiveAnderson, Benjamin M. (Benjamin McAlester)
General
Social Value: A Study in Economic Theory, Critical and Constructive
Anderson, Benjamin M. (Benjamin McAlester)
Value
It is not necessary to discuss here the question as to whether Professor
Clark means that his theory should be so interpreted.[219] What I wish to
insist upon is that no implication, either optimistic or pessimistic, as to
the existing social order, can be drawn from the theory defended in this
book. Whether or not economic values in particular cases correspond with
ethical values, whether or not goods are ranked on the basis of their
import for the ultimate welfare of society, and the extent to which this is
the case, will depend on the extent to which the ethical forces in society
prevail over the anti-ethical forces. The theory as such is neutral. Assume
our existing society, modified in the one particular that competition shall
henceforth be perfectly free, and still the conclusion does not follow.
Idle sons of our multimillionaires may inherit ill-gotten wealth, may
invest it and draw an endless income from it. With this income to back
their desires, they may make the services of panders worth more than the
services of statesmen and inventors. The values of goods depend on the more
fundamental values of men, even though the values of men, under abstract
economic laws, depend upon the value productivity of their labor or their
possessions. The theory is a theory of economic value, even though the
tremendous influence of ethical and other values be recognized as entering
into economic values. They may be overpowered by opposing forces. The
theory is a general theory, and holds for a decadent as well as for an
improving society; for a society where justice reigns, if such a society
there be, and for a society where corruption is rampant, and wolves prey.
The justification of the existing social order is to be sought
elsewhere--the theory of economic value, as such, does not contain it.
* * * * *
Public-domain text, read in full here on John Shaqi.
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