Monday, July 9, 2018

Ostentation-Value, Use-Value, Utility

As has been previously discussed, while diamonds have a much higher Ostentation-Value than water, the latter has a much higher Use-Value, even when marginally diminished, than the former.  Now, the cardinal difference between the two types of Value is that one reflects social norms, while the other expresses personal need.  So, in other words, the so-called "paradox of value" of Economists, is, at bottom, a conflict between Social-Value and Personal-Value, the same conflict that constitutes the central tension of Kantian Morality, of Id vs. Super-Ego in Freudianism, etc., i. e. is not a problem that is unique to Economics.  Furthermore, in standard Hedonist Utilitarianism, the concept of Utility homogenizes Ostentation- and Use-Values, so the Marginal Utilitarian provides a solution to a puzzle that they cannot recognize as suppressing its real problematic roots.

No comments:

Post a Comment