ABSTRACT
Very unfortunately, while the arguments I’ve outlined in this section are not difficult to follow, when we try to define a simple and consistent way to measure use value, things get tricky and complicated. In fact, it turns out that there is a raging, thousands-of-years-old debate about how use value can be measured. For the truly adventurous, you can find details about this battle by digging into the field of Value Theory, an area that spans across a wide range of subject areas from philosophy to economics, sociology to psychology. It is at the heart of many treatises of economic theory. Because of this, defining “value” and its measurement quickly becomes both complicated and confusing.
