Note 18 — Chapter I
Reading edition
Among the leading figures in economics to whom this doctrine is unacceptable, I would mention especially Professor H. J. Davenport, Value and Distribution and The Economics of Enterprise. A writer who seeks to minimize the importance of the issue between the relative and the absolute conceptions of value is Professor J. M. Clark, in Quarterly Journal of Economics, Aug. 1915. Professor Clark seems to agree with much of what has been said here, and the present writer would agree with Professor Clark, as indicated above, that for many purposes we do not need to look behind prices—entering a caveat that this is true only so long as we can assume a fixed absolute value of money.