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Updated: May 19, 2025
Our value-concept must be the yardstick to measure just how fully things and institutions contribute to a full psychological life. We must know more of the meaning of progress. The domination of society by one economic class has for its chief evil the thwarting of the instinct life of the subordinate class and the perversion of the upper class.
The economists, however, view economic inequality and life-degradation as objects in truth outside the science. Our value-concept is a price-mechanism hiding behind a phrase. If we are to play a part in the social readjustment immediately ahead, we must put human nature and human motives into our basic hypotheses.
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