Note 476 — Chapter XXII
Reading edition
Current text-books, following the Austrian doctrine, define production as the creation of "utilities." This is incorrect. Production is the creation of values. Cf. Social Value, pp. 119 and 189.
Reading edition
Current text-books, following the Austrian doctrine, define production as the creation of "utilities." This is incorrect. Production is the creation of values. Cf. Social Value, pp. 119 and 189.