Chapter XVI Professor Seligman’s Psychological Doctrine of the Relativity of Values
Professor Seligman’s contributions to value theory—Points of difference between his views and those here maintained—His psychological doctrine of relativity—Different from doctrine of English School, which is a matter of logical definition—Values relative because there is fixed sum of values, and increase in one value can come only through decrease in other values—Criticism: psychological difficulties; diminution of all values in times of panics and epidemics; decrease of economic values through increase of religious and other values—Element of truth in Professor Seligman’s doctrine—Relation between Professor Seligman’s view and that of Professor Clark 162