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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