Marginal Utility and Marginal Disutility as Ultimate Standards of Value

Charles E. Persons

The Quarterly Journal of Economics, 1913, vol. 27, issue 4, 547-578

Abstract: The current theory of value fails to take account of inequality, 547. — Value as a "ratio in exchange" to be qualified, 549. — Utility as the ultimate standard of value, 552. — Disutility as the ultimate standard; labor, 557. — The sacrifices of capitalists, 560. — The valuation of services, 462. — Non-competing groups, 569. — Conclusion: The ultimate standard of value does not exist in a modern society, 575.

Date: 1913
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