Use-value and exchange-value

descriptionPublicationkeyboard_double_arrow_right Article 01 Jul 1976 English Publisher:Springer Science and Business Media LLCJournal:Theory and Decision, volume 7, pages 171-179 (issn: 0040-5833, eissn: 1573-7187,

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Authors: Gibbins, Peter;

doi: 10.1007/bf02334313

Use-value and exchange-value

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Abstract

Discussion of the relation between exchange-value and use-value (as defined inCapital I) is clarified by the construction of set-theoretical models of these concepts. Marx argues fallaciously for the independence of exchange-value and use-value. His fallacy is diagnosed as depending upon a mistaken assumption about the impossibility of inferring a certain linear order on a set from a certain (different) partial order on that set.

Keywords

Utility theory

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