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Human Action: A Treatise on Economics Part 1

Mises Audio Books Podcast

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The Confusion of Marginal Utility and the Weber Fechner Law

He who wants to remove uneasiness caused by living in a room with a temperature of 35 degrees will aim at heating the room to 65 or 70 degrees. It has nothing to do with the weber fechner law that he does not aim at a temperature of 180 or 300 degrees. This is so because our world is a world of causality and of quantitative relations between cause and effect. All psychology can do for the explanation of this fact is to establish, as an ultimate given, that man prefers the preservation of life and health to death and sickness. What counts for praxi logy is only the fact that acting man chooses between alternatives.

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