THE THEORY OF VALUE

Otago Daily Times, Issue 23690, 23 December 1938, Page 5

THE THEORY OF VALUE

TO IHE EDITOB Sir—Letters to you from Mr Sivertsen are always of a very interesting nature, for the reason that he is a searcher after truth. There is no truth in a man whose actions are governed entirely by self interest, and with no regard' to the effect of his actions on the lives of his fellow men. As Mr Sivertsen points out, Professor Marshall relies upon free‘competition as a cure of industrial trouble The very word “ combination ” used by Mr Sivertsen implies protection against some form of competition from your fellow men, and this further implies that some section or sections of the nation are to suffer the effect of combinations of interests. Unfortunately, under modern democratic forms of government, those in control give way for political reasons to financial or numerically strong

groups, or combinations of interests, and so upset the balance which would have existed under free competition This interference in the interests of some sections of a nation detrimentally affects the lives of others, and in time, when the effects of policy have become serious, a state of mind and a condition of affairs exist which breed trouble.

To such a pass has democracy come that truth in its fullest sense is subordinated to material interests. Consequently there can be no free competition. Further, self interest becomes the dominating force in each person’s life. Consequently, disintegration of our moral and material life sets in, which disrupts the unity which should exist in our national life.

The greed of materialism has so blinded the majority of the people that their actions are the cause of the march of Socialism. It is not that Socialism is good or necessary. Combinations have undoubtedly put a false value on some goods to the benefit of some people and the disadvantage of others Besides this, material success is placed above all else in life. No nation can hold together and progress when the moral tone Is low. Such a state of affairs lequires a remedy, but, as we don’t clean our own stable. Socialism is a natural outcome. —I am. etc., Filius Populi. December 21.