Social Value: A Study in Economic Theory, Critical and Constructive
BOSTON AND NEW YORK HOUGHTON MIFFLIN COMPANY The Riverside Press Cambridge 1911 COPYRIGHT, 1911, BY HART, SCHAFFNER & MARX ALL RIGHTS RESERVED Published November 1911 TO MY FATHER BENJAMIN M. ANDERSON OF COLUMBIA, MISSOURI MY FIRST TEACHER OF POLITICAL ECONOMY
This series of books owes its existence to the generosity of Messrs. Hart, Schaffner, and Marx of Chicago, who have shown a special interest in directing the attention of American youth to the study of economic and commercial subjects, and in encouraging the systematic investigation of the problems which vitally affect the business world of to-day. For this purpose they have delegated to the undersigned Committee the task of selecting topics, making all announcements, and awarding prizes annually for those who wish to compete.
In the year ending June 1, 1910, the following topics were assigned:—
1. The effect of labor unions on international trade.
2. The best means of raising the wages of the unskilled.
3. A comparison between the theory and the actual practice of protectionism in the United States.
4. A scheme for an ideal monetary system for the United States.
5. The true relation of the central government to trusts.
6. How much of J. S. Mill's economic system survives?
7. A central bank as a factor in a financial crisis.
8. Any other topic which has received the approval of the Committee.
A first prize of six hundred dollars, and a second prize of four hundred dollars, were offered for the best studies presented by class A, composed chiefly of graduates of American colleges.
Benjamin M. Anderson
SOCIAL VALUE
A STUDY IN ECONOMIC THEORY CRITICAL AND CONSTRUCTIVE
B. M. ANDERSON, Jr., Ph.D.
ANALYTICAL TABLE OF CONTENTS
CHAPTER I
PROBLEM AND PLAN OF PROCEDURE
CHAPTER II
FORMAL AND LOGICAL ASPECTS OF THE VALUE CONCEPT
CHAPTER III
VALUE AND MARGINAL UTILITY
CHAPTER IV
JEVONS, PARETO AND BÖHM-BAWERK
CHAPTER V
DEMAND CURVES AND UTILITY CURVES
CHAPTER VI
THE VICIOUS CIRCLE OF THE AUSTRIANS
CHAPTER VII
PROFESSOR CLARK'S THEORY OF SOCIAL VALUE
CHAPTER VIII
THE PHILOSOPHICAL AND PSYCHOLOGICAL PRESUPPOSITIONS
CHAPTER IX
THE SOCIOLOGICAL PRESUPPOSITIONS
CHAPTER X
CHAPTER XI
CHAPTER XII
SOCIAL VALUE: THE THEORIES OF URBAN AND TARDE
CHAPTER XIII
ECONOMIC SOCIAL VALUE
CHAPTER XIV
CHAPTER XV
SOME MECHANICAL ANALOGIES
CHAPTER XVI
PROFESSOR SELIGMAN'S PSYCHOLOGICAL DOCTRINE OF THE RELATIVITY OF VALUES
CHAPTER XVII
THE THEORY OF VALUE AND THE THEORY OF PRICES
CHAPTER XVIII
CHAPTER XIX
PART I
INTRODUCTION
PROBLEM AND PLAN OF PROCEDURE
FOOTNOTES:
CRITIQUE OF CURRENT VALUE THEORY
FORMAL AND LOGICAL ASPECTS OF THE VALUE CONCEPT
FOOTNOTES:
VALUE AND MARGINAL UTILITY
FOOTNOTES:
JEVONS, PARETO AND BÖHM-BAWERK
FOOTNOTES:
DEMAND CURVES AND UTILITY CURVES
FOOTNOTES:
THE VICIOUS CIRCLE OF THE AUSTRIANS
FOOTNOTES:
PROFESSOR CLARK'S THEORY OF SOCIAL VALUE
FOOTNOTES:
THE PRESUPPOSITIONS OF ECONOMIC THEORY
THE PHILOSOPHICAL AND PSYCHOLOGICAL PRESUPPOSITIONS
FOOTNOTES:
THE SOCIOLOGICAL PRESUPPOSITIONS
FOOTNOTES:
A POSITIVE THEORY OF SOCIAL VALUE
VALUE AS GENERIC. THE PSYCHOLOGY OF VALUE
FOOTNOTES:
RECAPITULATION. THE SOCIAL VALUES. FUNCTIONS OF THE VALUE CONCEPT IN ECONOMICS
FOOTNOTES:
SOCIAL VALUE: THE THEORIES OF URBAN AND TARDE
FOOTNOTES:
ECONOMIC SOCIAL VALUE
FOOTNOTES:
FOOTNOTES:
SOME MECHANICAL ANALOGIES
FOOTNOTES:
PROFESSOR SELIGMAN'S PSYCHOLOGICAL DOCTRINE OF THE RELATIVITY OF VALUES
FOOTNOTES:
THE THEORY OF VALUE AND THE THEORY OF PRICES
FOOTNOTES:
FOOTNOTES:
THE THEORY OF VALUE AND THE SOCIAL OUTLOOK. SUMMARY
FOOTNOTES:
INDEX OF NAMES