Friday, December 5, 2014

Use-Value, Quantification, Utilitarianism

That $10 usually means more to a poor person than to a rich one illustrates a significant internal flaw in Utilitarianism.  As mediating exchange, monetary price expresses Exchange-Value, the efficiency of which is derived from the capacity of the quantification of a common unit to both standardize and differentiate the otherwise incommensurate terms of a transaction.  In contrast, the meaning to one person of a quantity of money is its Use-Value, and that the same quantity has a different meaning to another reflects the absence of a common unit between them.  In other words, Use-Value in an interpersonal context cannot be quantified.  But, as the name plainly expresses, the basic unit of Utilitarianism is Use-Value, i. e. Pleasure.  Hence, the interpersonal quantification, i. e. the Utilitarian Calculus, via which the doctrine determines the general 'good', is completely inappropriate to its fundamental terms.

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