FREE BOOKS

Author's List




PREV.   NEXT  
|<   67   68   69   70   71   72   73   74   75   76   77   78   79   80   81   82   83   84   85   86   87   88   89   90   91  
92   93   94   95   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114   115   116   >>   >|  
ployment and to become dependent upon others. The problems of subsistence open opportunities for exploitation and the stronger become related to great numbers of weaker members of the community. Thus men's lives are intensified, and the conditions out of which thought and feeling arise are social conditions rather than individual. The country community under these circumstances rises into new significance. In the early pioneer days the country community for a similar reason was much in thought and feeling, because then men were seeking a bare subsistence in the contest with nature. This consciousness was lost as soon as the pioneer days were past and the abundance of nature began to enrich mankind instead of antagonizing him. Now, again, the country community has come into prominence because men are confronted with a struggle to maintain an acceptable standard of living. In dealing with a social whole, to accomplish certain purposes one must deal with it in social terms. Social service is not quantitative, but qualitative. Ministry to a community is not uniformly applied to all the members. In social service there is no such thing as equality of all the population. The differing values of men in a social population are determined, as other values are measured, by the working of the law of diminishing returns. Roughly stated, this law is that successive additions of any valued thing bring ever diminished returns. The first quantity of anything is of infinite value. For later increments the value is measurable, and ever less with the increase. The application of this law in economics is stated as follows by Professor John Bates Clark: "Labor, as thus applied to land, is subject to a law of diminishing returns. Put one man on a quarter section of land, containing prairie and forest, and he will get a rich return. Two laborers on the same ground will get less per man; three will get still less; and, if you enlarge the force to ten, it may be that the last man will get wages only." "Modern studies of value, show that doses of consumer's goods, given in a series to the same person have less and less utility per dose. The final utility theory of value rests on the same principle as does the theory of diminishing returns from agriculture; and this principle has a far wider range of new applications." "We have undertaken to generalize the law that is at the basis of the theory of value. In reality, it is all-compre
PREV.   NEXT  
|<   67   68   69   70   71   72   73   74   75   76   77   78   79   80   81   82   83   84   85   86   87   88   89   90   91  
92   93   94   95   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114   115   116   >>   >|  



Top keywords:

community

 

social

 

returns

 
country
 
theory
 

diminishing

 

service

 
applied
 

pioneer

 

nature


principle

 

conditions

 

stated

 
values
 

members

 

feeling

 

thought

 
population
 

utility

 
subsistence

quantity

 
quarter
 

subject

 

diminished

 
infinite
 

increase

 

section

 

measurable

 

increments

 

application


economics

 

Professor

 

person

 

consumer

 
series
 

agriculture

 
reality
 
compre
 
generalize
 

undertaken


applications

 

laborers

 

ground

 
return
 

prairie

 

forest

 

Modern

 
studies
 

enlarge

 
valued