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The Philosophy of Wealth
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Excerpt from The Philosophy of Wealth: Economic Principles Newly Formulated
The prevalent theory of value started with a mis conception of utility, and of the part which it, plays in exchanges. Economic science, in general, found no adequate place for the intellectual activities of men, and made no important use of the fact that society is an organism, to be treated as a unit in the discussion of many processes affecting wealth.
The articles referred to endeavored to contribute such share as they might toward the needed recon struction of economic theories. They endeavored to broaden the conception of wealth, as the subject of the science, to find a place in the system for the better motives of human nature, to construct a new theory of value, to apply at all points the organic conception of society, and to suggest other corrections. They tried, in general, to bring the premises of the science into better accordance with facts, and to bring the general spirit of it into greater harmony with the instinctive demands of a healthy human nature.
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