PETER G. KLEIN...............................................................................................

7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
I. THE GENERAL THEORY OF THE GOOD...............................................51
The Nature of Goods............................................................................................PETER G.
KLEIN........................................................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
II. THE GENERAL THEORY OF THE GOOD...............................................51
1. The Nature of Goods................................................................................51
2. The Casual Connections between Goods.................................................55
3. The Laws Governing Goods-Character...................................................58
A. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
B. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
A. Property Satisfactions on Particular Goods (Objective Factor).........128
B. The Influence of Differences in the Quality of Goods on Their Value
141
C. The Subjective Character of the Measure of Value. Labor and Value. Error145
2. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
III. THE GENERAL THEORY OF THE GOOD...............................................51
4. The Nature of Goods................................................................................51
5. The Casual Connections between Goods.................................................55
6. The Laws Governing Goods-Character...................................................58
C. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
D. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
II. ECONOMY AND ECONOMIC GOODS.....................................................77
1. Human Requirements...............................................................................80
A. Requirements for Goods of First Order (Consumption Goods).........80
B. Requirements for Goods of Higher Order (Means of Production)....84
C. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89

3. The Origin of Human Economy and Economic Goods...........................94

A. Economic Goods................................................................................94
B. Non-Economic Goods........................................................................98
C. The Relationship between Economic and Non-Economic Goods.....101
D. The Laws Governing the Economic Character of Goods..................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
3. The Nature and Origin of Value..............................................................114
4. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
5. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
IV. THE GENERAL THEORY OF THE GOOD...............................................51
7. The Nature of Goods................................................................................51
8. The Casual Connections between Goods.................................................55
9. The Laws Governing Goods-Character...................................................58
E. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
F. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
III. ECONOMY AND ECONOMIC GOODS.....................................................77
2. Human Requirements...............................................................................80
B. Requirements for Goods of First Order (Consumption Goods).........80
C. Requirements for Goods of Higher Order (Means of Production)....84
D. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94
B. Economic Goods................................................................................94
C. Non-Economic Goods........................................................................98
D. The Relationship between Economic and Non-Economic Goods.....101
E. The Laws Governing the Economic Character of Goods..................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
6. The Nature and Origin of Value..............................................................114

7. The Original Measure of Value...............................................................121

A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
8. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
V. THE GENERAL THEORY OF THE GOOD...............................................51
10. The Nature of Goods................................................................................51
11. The Casual Connections between Goods.................................................55
12. The Laws Governing Goods-Character...................................................58
G. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
H. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
IV. ECONOMY AND ECONOMIC GOODS.....................................................77
3. Human Requirements...............................................................................80
E. Requirements for Goods of First Order (Consumption Goods).........80
F. Requirements for Goods of Higher Order (Means of Production)....84
G. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94
F. Economic Goods................................................................................94
G. Non-Economic Goods........................................................................98
H. The Relationship between Economic and Non-Economic Goods.....101
I. The Laws Governing the Economic Character of Goods..................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
9. The Nature and Origin of Value..............................................................114
10. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
11. The Laws Governing the Value of Goods of Higher Order.....................149

A. The Principle Determining the Value of Goods of Higher Order......149

B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
VI. THE GENERAL THEORY OF THE GOOD...............................................51
13. The Nature of Goods................................................................................51
14. The Casual Connections between Goods.................................................55
15. The Laws Governing Goods-Character...................................................58
I. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
J. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
V. ECONOMY AND ECONOMIC GOODS.....................................................77
4. Human Requirements...............................................................................80
H. Requirements for Goods of First Order (Consumption Goods).........80
I. Requirements for Goods of Higher Order (Means of Production)....84
J. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94
J. Economic Goods................................................................................94
K. Non-Economic Goods........................................................................98
L. The Relationship between Economic and Non-Economic Goods.....101
M. The Laws Governing the Economic Character of Goods..................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
12. The Nature and Origin of Value..............................................................114
13. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
14. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37

AUTHORS PREFACE.......................................................................................45
VII........................................................................................................................THE
GENERAL THEORY OF THE GOOD........................................................51
16. The Nature of Goods................................................................................51
17. The Casual Connections between Goods.................................................55
18. The Laws Governing Goods-Character...................................................58
K. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
L. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
VI. ECONOMY AND ECONOMIC GOODS.....................................................77
5. Human Requirements...............................................................................80
K. Requirements for Goods of First Order (Consumption Goods).........80
L. Requirements for Goods of Higher Order (Means of Production)....84
M. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94
N. Economic Goods................................................................................94
O. Non-Economic Goods........................................................................98
P. The Relationship between Economic and Non-Economic Goods.....101
Q. The Laws Governing the Economic Character of Goods..................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
15. The Nature and Origin of Value..............................................................114
16. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
17. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
VIII.......................................................................................................................THE
GENERAL THEORY OF THE GOOD........................................................51
19. The Nature of Goods................................................................................51
20. The Casual Connections between Goods.................................................55
21. The Laws Governing Goods-Character...................................................58

M. The Goods-Character of Goods of Higher Order is Dependent on Command of

Corresponding Complementary Goods..............................................58
N. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
VII........................................................................................................................ECONOM
Y AND ECONOMIC GOODS......................................................................77
6. Human Requirements...............................................................................80
N. Requirements for Goods of First Order (Consumption Goods).........80
O. Requirements for Goods of Higher Order (Means of Production)....84
P. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94
R. Economic Goods................................................................................94
S. Non-Economic Goods........................................................................98
T. The Relationship between Economic and Non-Economic Goods.....101
U. The Laws Governing the Economic Character of Goods..................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
18. The Nature and Origin of Value..............................................................114
19. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
20. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
IX. THE GENERAL THEORY OF THE GOOD...............................................51
22. The Nature of Goods................................................................................51
23. The Casual Connections between Goods.................................................55
24. The Laws Governing Goods-Character...................................................58
O. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
P. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74

VIII.......................................................................................................................ECONOM
Y AND ECONOMIC GOODS......................................................................77
7. Human Requirements...............................................................................80
Q. Requirements for Goods of First Order (Consumption Goods).........80
R. Requirements for Goods of Higher Order (Means of Production)....84
S. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94
V. Economic Goods................................................................................94
W. Non-Economic Goods........................................................................98
X. The Relationship between Economic and Non-Economic Goods.....101
Y. The Laws Governing the Economic Character of Goods..................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
21. The Nature and Origin of Value..............................................................114
22. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
23. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
X. THE GENERAL THEORY OF THE GOOD...............................................51
25. The Nature of Goods................................................................................51
26. The Casual Connections between Goods.................................................55
27. The Laws Governing Goods-Character...................................................58
Q. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
R. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
IX. ECONOMY AND ECONOMIC GOODS.....................................................77
8. Human Requirements...............................................................................80
T. Requirements for Goods of First Order (Consumption Goods).........80
U. Requirements for Goods of Higher Order (Means of Production)....84
V. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94

Z. Economic Goods................................................................................94
AA............................................................................................................NonEconomic Goods................................................................................98
BB............................................................................................................The
Relationship between Economic and Non-Economic Goods............101
CC............................................................................................................The Laws
Governing the Economic Character of Goods...................................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
24. The Nature and Origin of Value..............................................................114
25. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
26. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
PETER G. KLEIN...............................................................................................7
INTRODUCTION BY F.A. HAYEK..................................................................11
TRANSLATORS PREFACE.............................................................................37
AUTHORS PREFACE.......................................................................................45
XI. THE GENERAL THEORY OF THE GOOD...............................................51
28. The Nature of Goods................................................................................51
29. The Casual Connections between Goods.................................................55
30. The Laws Governing Goods-Character...................................................58
S. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
T. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
X. ECONOMY AND ECONOMIC GOODS.....................................................77
9. Human Requirements...............................................................................80
W. Requirements for Goods of First Order (Consumption Goods).........80
X. Requirements for Goods of Higher Order (Means of Production)....84
Y. The Time Limits within Which Human Needs are Felt.....................87
2. The Available Quantities.........................................................................89
3. The Origin of Human Economy and Economic Goods...........................94
DD............................................................................................................Economic
Goods.................................................................................................94
EE.Non-Economic Goods........................................................................98
FF. The Relationship between Economic and Non-Economic Goods.....101

GG............................................................................................................The Laws
Governing the Economic Character of Goods...................................106
4. Wealth......................................................................................................109
III. THE THEORY OF VALUE..........................................................................114
27. The Nature and Origin of Value..............................................................114
28. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
29. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165
31.
51
32. The Casual Connections between Goods.................................................55
33. The Laws Governing Goods-Character...................................................58
U. The Goods-Character of Goods of Higher Order is Dependent on Command of
Corresponding Complementary Goods..............................................58
V. The Goods-Character of Goods of Higher Order is Derived from that of the
Corresponding Goods of Lower Order..............................................63
4. Time and Error.........................................................................................67
5. The Causes of Progress in Human Welfare.............................................71
6. Property....................................................................................................74
XI. ECONOMY AND ECONOMIC GOODS.....................................................77
10. Human Requirements...............................................................................80
5. 109
III. THE THEORY OF VALUE..........................................................................114
30. The Nature and Origin of Value..............................................................114
31. The Original Measure of Value...............................................................121
A. Differences in the Magnitude of Importance of Different Satisfactions
(Subjective Factor).............................................................................122
B. The Dependence of Separate Satisfactions on Particular Goods (Objective
Factor)................................................................................................128
C. The Influence of Differences in the Quality of Goods on Their Value
141
D. The Subjective Character of the Measure of Value. Labor and Value. Error145
32. The Laws Governing the Value of Goods of Higher Order.....................149
A. The Principle Determining the Value of Goods of Higher Order......149
B. The Productivity of Capital................................................................152
C. The Value of Complementary Quantities of Goods of Higher Order157
D. The Value of Individual Goods of Higher Order...............................162
E. The Value of the Services of Land, Capital, and Labor in Particular 165