John Atkinson Hobson,
Confessions of an Economic Heretic
(1938)
“ The finest picture in the world has no effectual value if there is nobody available to appreciate its beauty. Even “a sheaf of wheat” may be devoid of “effectual” value if its owner has a surfeit, and it cannot pass to another who is in need of food. Curiously enough this view of wealth and value is here confined to the human utility of articles of wealth and takes no direct account of their human cost. This is the stranger inasmuch as Ruskin’s earliest and strongest charge against the economic system was that, by dividing and mechanizing labour, it took away all interest in and joy of work. ”

