[14] See supra, p. 3, note 1.


PART II

CRITIQUE OF CURRENT VALUE THEORY


CHAPTER II

FORMAL AND LOGICAL ASPECTS OF THE VALUE CONCEPT

The study of wealth is meaningless, unless there be a unit for measuring it. The questions to be answered are quantitative.... Reciprocal comparisons give no sums.... Ratios of exchange alone afford us no answer to the economist's chief inquiries.[15]