SENIOR
§ 1. Opening of his discussion very unfavorable to old labor cost
philosophy 93
§ 2. Originates a consistent conception of subjective cost of
production,—labor and abstinence 95
§ 3. Approaches a theory of final equivalence of utility and
disutility 96
§ 4. Values produced would be in proportion to subjective cost
of production were there no rents 98
§ 5. Remarkable extension of the rent concept 99
§ 6. The universal prevalence of rent in real life nullifies
the law of subjective costs 101
§ 7. Net result of Senior’s reasonings very destructive of
labor-cost theory 102