The first expressed Nino's conception of the good: those things, and those things only, that were valued by the individual in question.
Specialising in theories of value and social theory, he was an assistant professor and associate professor of anthropology at Yale University from 1998 to 2007, although Yale controversially declined to rehire him.
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A close reading of Jevons' chapter on "labor" in his "Theory of Political Economy" reveals that he considered his marginal analysis quite consistent with the labor theory of value as he established that in equilibrium marginal utility equals marginal labor value.
Contemporary philosophers Joshua Hoffman and Gary S. Rosenkrantz take the first horn of the dilemma, branding divine command theory a "subjective theory of value" that makes morality arbitrary.
Marginalist theory lacked anything like a theory of the social framework of real market functioning, and criticism sparked off by the capital controversy initiated by Piero Sraffa revealed that most of the foundational tenets of the marginalist theory of value either reduced to tautologies, or that the theory was true only if counter-factual conditions applied.