Note 347 — Chapter XV

This distinction is clearly made and developed by von Wieser, in the two articles referred to in our chapter on "Marginal Utility." It is used by him in criticisms of the quantity theory. "Der Geldwert und seine geschichtlichen Veränderungen," Zeitsch. für Volkswirtschaft, Sozialpolitik und Verwaltung, XIII, 1904; discussions in Schriften des Vereins für Sozialpolitik, 1009, no. 132. A similar distinction runs through J. A. Hobson's Gold, Prices and Wages, London, 1913. The present writer had worked out the line of argument here presented before reading either of these discussions.