First Principles of Material Well Being

Cover First Principles of Material Well Being
First Principles of Material Well Being
Benjamin Davies
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Similarly in equation (6), 1 is the personal characteristic for human labour. E and L are the actual energies expended. The relative magnitudes as well as the absolute magnitudes of these energies depend on the individual. In the case of an artist, and the commodity a piece of furniture, L would be large and E probably small ; but for the stern utilitarian E would certainly be large and L as small as it could be made. W E is the well-being due to the utilisation of stored energy E and W Em its ...Material Weil-Being 43 maximum value : W L is that part of well- being due to the use of human labour L and W Lm its maximum value.
These equations (4), (5) and (6) represent the kind of relations that exist between Well-being W and the three elements Q E and L on which it is founded.
The physical meaning of these equations is this, that the true material well-being of man attains a maximum at a point depending on his natural abilities, education and necessities, as denned by the magnitudes of q e and 1.


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