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