An Examination of Some of the Bases of Current Economic Theory Valeur Pour Vale
An Examination of Some of the Bases of Current Economic Theory Valeur Pour Vale
Samuel Belcher Clarke
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Were this done, the owners of air would certainly have property power or, what is the same thing in meaning, the air 17 With this analysis in mind, we may see that, for the owner, 1 property has two utilities which are as wide apart as the color and the weight of a material thing, and which may, for conven- ience, be distinguished as consumption utility would have value. Relative abundance and scarcity are causes of the variability of property power or value, but not of the existence of propert...y pow'er or value. iFor all-of-us, for mankind, property has other utilities which would have to be emphasized if the question were on the economic and ethical justification of property. The supposed principle of property to- the producer the product of right belongs which is implicitly assumed by the socialist, Karl Marx, and by many individualist economists, and which is expressly affirmed by J. S. Mill, in the second book of his Principles of Political Economy, and by Henry George in Progress and Poverty, and by Professor J.
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