ABSTRACT
The accepted economic language regarding costs and utilities can, I think, be readily accommodated to this envisaging of human values in terms of welfare. A cost will rank as a negative, a utility as a positive, contribution to welfare. We should thus be enabled to adjust the science and art of economics to the requirements of psychology, taking due account of the satisfactions of the crude or sublimated instincts, in which psychology finds the urge of life, and the material out of which special activities are found. The harmony of activities under the growing conscious direction and control of intelligence for the achievement of an ever higher and larger Welfare, in society as in its members, furnishes to us a picture of Progress, consistent with the teaching of science. A society, thus regarded, would be progressing in proportion as its arrangements contributed to providing free, full, varied, and harmonious play to the human, instincts or dispositions, by sublimation, combination, repression, and suppression, directed by the growing consciousness of a human esprit de corps.
