Search Books

  • Search Full Site
  • Display Book Titles
  • Display Book Paragraphs
6 paragraphs found in the 1 Book listed below
The Positive Theory of Capital; Böhm-Bawerk, Eugen v.
6 paragraphs found.
Authors Preface

For the same reason I could not notice the important work of Wieser on Natural Value, which only came to my hands during the printing of my last chapter.

Book III,Ch.IV

Here then we have reached the goal of the present inquiry, and may formulate it thus: the value of a good is measured by the importance of that concrete want, or partial want, which is least urgent among the wants that are met from the available stock of similar goods. What determines the value of a good, then, is not its greatest utility, not its average utility, but the least utility which it, or one like it, might be reasonably employed in providing under the concrete economical conditions. To save ourselves the repetition of this circumstantial description—which, all the same, had to be somewhat circumstantial to be quite correct—we shall follow Wieser *9 in calling this least utility—the utility that stands on the margin of the economically permissible—the economic Marginal Utility of the good. The law which governs amount of value, then, may be put in the following very simple formula: The value of a good is determined by the amount of its Marginal Utility.

Book III,Ch.IX
The confusion, so common in economic literature, between the gross share assigned to the co-operation of capital (Rohzins) and net interest, has been fully discussed in my Capital and Interest (see the criticism of Lauderdale, p. 146; of Carey, p. 155; of Strasburger, p. 175; of Say, p. 189, etc.) It will not be expected of me to give a complete theory of distribution in the passing, as it were. I purposely refrain from going deeper into the subject than is necessary for my special task, the development of the Interest theory. And for this it is sufficient to sketch only in the broadest lines the principles which limit the gross share of capital, as against the shares of labour and uses of land that co-operate with it: our special task will be to lay down what is the state of the case as regards the gross share of capital. Moreover I hope that on this question of the shares allotted to the various factors, which I am compelled to treat in a very cursory way, the eagerly expected work of Wieser will very shortly shed a clear light. (Wieser's Der Natürliche Werth, Vienna, 1889, appeared while this was passing through the press.—W. S.)
Book III,Ch.X
This is demanded by the principle of "economic conduct." See Wieser, Ursprung und Hauptgesetze des wirthschaftlichen Werthes, p. 148.
Wieser, p. 146.
Book VII,Ch.V
The possibility of a complete harmony of satisfaction is only now and then prevented through an imperfect divisibility of wants on the one side, and of units of goods on the other. See my Grundzüge in Conrad's Jahrbücher, vol. xiii. p. 68, and in particular Wieser's Ursprung und Hauptgesetze, p. 148.