The Value of MoneyAnderson, Benjamin M. (Benjamin McAlester)
General
The Value of Money
Anderson, Benjamin M. (Benjamin McAlester)
Money
Here we have wants which grow out of the most elementary things in human
nature, wants which are intense and universal, but which vary, in their
concrete manifestations, enormously from age to age and from place to
place. When we come to the wants which change more quickly, the fact
that social factors dominate needs no arguing. Fashion, mode, custom,
obviously account for the concrete wants that exist in clothing,
ornamentation, amusement, housing, etc. If we wish to know what women
will be wanting to wear six months hence, we do not go to women
individually and ask them. We could not find out that way. They would
not know. We go rather to the theatre, and study the stage and the
boxes, to the famous designers of women's dress, to the metropolitan
centres of various sorts, to the "radiant points of social control"[37]
from which emanate the suggestions which pass in imitative waves through
the women of the country in the next few months. The laws of imitation
have been elaborately developed by Bagehot, Tarde, Baldwin, Ross, LeBon,
Cooley, and others, and I content myself here with referring to their
writings. The wants of women--and men--are socially given, grow out of a
give and take, a social process. And in this social process, it is not
true that each man counts one! Rather, a few lead, and many follow.
There are centres of prestige which count overwhelmingly.
Certain wants are competitive.[38] Where social status depends on having
as good a house as one's neighbors, and where social leadership depends
on having a better house than one's neighbors, there is no limit to
men's desires for better houses. With each improvement which one
introduces, each feels the desire to improve, however contented he might
have been had the other not made the improvement. To this we shall recur
in our discussion of the origin of money, in explaining the value of
gold.
So much for the human wants which stand as the focus of economic values
in the case of articles of immediate consumption.
Public-domain text, read in full here on John Shaqi.
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