Index

Adam Smith, 1, 8, 18, 20.

Aristotle, 3, 47.

Austrian School, 5, 27, 30, 55, 85.

Böhm-Bawerk, 7, 32, 37, 40, 45, 47, 55, 60, 61.

Complementary goods, 42.

Consumption goods, 68.

Cost of production, 67; conduction of value from marginal products to, 74; from, to products, 78.

Demand Side of the Theory of Value, Appendix II., 91.

Desirable and desired, 10, 11.

Exchange, 56; motives of, 56; isolated, 57; no one-sided competition, 58; ordinary, 58.

Goods, 11, 16; economic, 17; classification of, 21; complementary, 42; stand midway between production and consumption, 68.

Illustrations: sailor and his dog, 30; Crusoe and his sacks, 32; housewife and her butter, 39; silk substitute, 76.

Jevons, 6, 8, 11, 32, 85.

Life, 4, 10.

Marginal buyer, 64; marginal pair, 60, 64.

Marginal products, conduction of value to productive goods, 74.

Marginal utility, 29; level of, 40.

Menger, 11, 15, 17, 42, 45, 68.

Mill, 2.

Neumann, 7.

Political Economy, based on economic conduct, 9.

Price, 55; assumptions of the law, 56; based on subjective valuations, 61; determined by the marginal buyer, 64.

Ricardo, 12, 18.

Roscher, 68.

Ruskin, 4.

Satisfaction, the diminishing scale (Sättigungscala), 27; Appendix I., 87.

Scarcity, 10, 11, 16, 40.

Schäffle’s objection, 36.

Subjective exchange value, 47; money the typical example, 50.

Supply and Demand, relation of the Austrian law to the law of, 65, 84.

Sydney Smith, 2, 3.

Useful and valuable, the distinction emerging, 11.

Utility, 8, 12; the supreme principle, 13, 14, 24; marginal, 29; the foreign, 39.

Value, looseness of the term, 1; in use and in exchange, 2; not an inherent property, 3; always a relation, 5; subjective and objective, 5; depends entirely on utility, 8; analysis of common usage, 9; the common element, 10; difference from utility, 11, 12; attaches to a felt condition, 14; the centre within us, 16; a relation of dependence, 17; scale of, 18; Adam Smith’s scale, 20; where nearly true, 24; the true scale, 26; determined by marginal utility, 32; paradox of, 34; necessity of defining what one is valuing, 35; capitalised, 37; the lowest use, 37; the foreign utility, 39; of complementary goods, 42; subjective exchange, 47; transition to objective, 52; and price, 55; price based on subjective valuations, 61; supply and demand, 65; cost of production, 67; from the past or the future of goods, 67; the conduction of, 70; shown by silver, 72; conducted from marginal products to cost, 74; and from cost to product, 78, 84; the fundamental law, 84

Walker, 4.

Wants, a demand for satisfaction, 15; classification of, 19; scale of, 20.

Wieser, 13, 28, 32, 45, 46, 47, 51, 62, 87.

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