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
We turn, therefore, to a logical analysis of existing social psychic forces
for our explanation of social economic value, and for the explanation of
the motivation of the economic activity of society. It will still pay us,
however, to halt for a moment in Wieser's hypothetical "natural" community,
for we shall find there that many of the concrete complexities which he
sought to eliminate have really persisted in slight disguise. Really there
is no such simplicity as Wieser supposes. The "natural" society has,
indeed, no private property, or differences between rich and poor, but it
has, none the less, _legal_ and _ethical_ standards of _distribution_,
which are just as efficient in the determination of economic values as are
the results of our present system of distribution. The term, "natural," has
misled Wieser, when it leads him to say that marginal utility alone will
rule. For "natural" here means, not "simple," but "ethically ideal." The
word has--as Wieser and others who have used it often fail to see--a
positive connotation of its own: a definite set of legal and ethical values
are bound up in it in this case. That such a society should exist, and that
in it "marginal utility" should be the only _variable_ affecting value
(apart from the limitations of physical nature), implies the legal rule of
equality in distribution, and such a set of moral values actually ruling
the behavior of the people as to make this legal rule effective,--or else
the most extraordinary activity on the part of the government to maintain
the rule. Wieser himself fails to see this, for he concedes that the
"moral" principle of distribution in such a society would recognize the
superior merits of the leaders who furnish ideas and direction, as
entitling them to a higher reward than the merely mechanical laborers.[167]
But this, it is evident, would give them an excess of that same vexatious
"purchasing power"[168]--whether embodied in gold or commodities or
labor-checks matters little--and so would destroy the efficiency of the
principle of "marginal utility" as the ruler of values.
Public-domain text, read in full here on John Shaqi.
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