in the theory of value and prices. 89 



the rate of passing from one locus to the next along a line of force 

 shall for all positions between the two loci be inversely proportional 

 to the value of vU^ already assigned to these positions. If vU^ is 

 not distributed in the above manner integration is impossible and 

 there is no such quantity as total ittility or gain. 



Even if the integration were possible there would still be an arbi- 

 trary constant. We could even claim that total disutility exceeds 

 total utility and all man can do is to minimize the disagreeable in- 

 stead of maximize the agreeable. In other words, if we embrace 

 hedonism, there is nothing in economic investigation to cause us to 

 choose between optimism and pessimism. 



§ 8- 

 Thus if we seek only the causation of the objective facts of prices 

 and commodity distribution four attributes of utility as a quantity 

 are entirely unessential, (1) that one man's utility can be compared to 

 another's, (2) that for the same individual the marginal utilities at 

 one consumption-combination can be compared with those at another, 

 or at one time with another, (3) even if they could, total utility and 

 gain might not be integratable, (4) even if they were, there would 

 be no need of determining the constants of integration. 



EisTD OF Part II. 



