1. In the first stage as throughout, it must be carefully noted, the
means are under consideration not primarily in their physical aspect,
but simply as _subject to a possible redisposition_. Thus it is not
money as lawful currency receivable at the steamship office for an ocean
passage, nor tools and materials and labor-power technically suitable
for the production of a desired object, that is the subject of the
economic judgment. The problem of redisposition would of course not be
raised were the means not technically adaptable to the purpose, nor on
the other hand can the means in the course of economic judgment, as a
rule, escape some measure of further (factual) inquiry into their
technical properties; but the standpoints are nevertheless distinct.
Again, it must be noted that the means in this first stage will be only
roughly measured. The length of one's stay abroad, the size of the
house one wishes to build, the purpose whatever it may be, is still
undefined--these are in fact the very matters which the process must
determine--and in the first instance it is "money in general" or "a
large sum of money" with reference to which we raise the economic
problem. The category of quantity is in fact essentially an economic
one; it is essentially a standpoint for determining the means of action
in such a way as to facilitate their economic valuation. The reader
familiar with the writings of the Austrian school of economists will
easily recall how uniformly in their discussions of the principle of
marginal utility these writers assume outright in the first place the
division of the stock of goods into definite units, and then raise the
question of how the value of a unit is measured. The stock contains
already a hundred bushels of wheat or ten loaves of bread--apparently as
a matter of metaphysical necessity--whereas in fact the essential
economic problem is this very one of how "wheat at large" comes to be
put in sacks of a certain size and "bread in general" to be baked in
twelve-ounce loaves. The subdivision of the stock and the valuation of
the unit are not successive stages, but inseparably correlative phases
of the valuation-process as a whole. The outcome may be stated either
way, in accordance with one's interest in the situation.
Public-domain text, read in full here on John Shaqi.
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