Mises Daily
Author:
Eugen von Böhm-Bawerk
Online Publish Date:
[This article is excerpted from The Positive Theory of Capital , book 3, chapter 2, “Nature and Origin of Subjective Value.”] All goods without exception — indeed according to the very conception of them as “good” — possess a certain relation to human well-being. There are, however, two essentially distinct grades of this relation. A good belongs