RE: [Pen-l] The Beauty of Markets and Markets of Beauty

["Perelman, Michael" <MPerelman@xxxxxxxxxxxx>]

Jim D. asked: what is "negative value"?

The idea came from Macleod.  He defends Macleod notion of negative
value, although he comments that "Mr. Macleod has not exactly understood
his own meaning (p. 135).  Jevons then explains: "Timber in Liverpool
timber-yard is well; timber standing on a homestead in the far west is a
serious discommodity.  The
sewage, cinders, and especially the night soil of the house are
discommodity's, especially in large towns, because under our present
arrangements a good deal of cost has to be incurred in getting rid of
them without injury to health."
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