ABSTRACT
The so-called marginalist revolution is founded on a functional connection between value in use and value in exchange. One of the fathers of the marginalist revolution, Jevons, traces this connection back to utilitarianism and particularly to Bentham’s version of it. 1 This paper discusses this widely held view. This issue is also connected to other important issues, such as the differences, commonly overlooked, between the notions of ‘economic man’ in classical and marginalist analysis (as well as within each of them).
