Classification of Wants and the Theory of Value

The concept class of wants is entirely superfluous. It has no meaning for action, and therefore none for the theory of value. In treating marginal utility, we deal neither with sensuous enjoyment, nor with saturation and satiety. We call that employment of a unit of a homogeneous supply, which a man makes if his supply is n units, but would not make if other things being equal, his supply were only n minus one units,. The least urgent employ ment, or the marginal employment, and the utility derived from it, marginal utility. There are only two alternatives: Either there are or there are not intermediate stages between the felt uneasiness which impels a man to act,