Are they completely different concepts or do they hold some similarities?
here man, Mengers own words.
Eating Propaganda
What do you mean i don't care how your day was?!
This might not be very helpful if you do not have access to journals through an academic institution, but there is a paper on this subject entitled 'Marx and Menger on value: as many similarities as differences' that can be found here.
I will try and remember to post up a few select quotes from the article next time I pop into college.
The abstract reads;
In Menger's terms,
For Menger, use value and exchange value are two sides of the same coin: subjective value.
For Marx, use value is the satisfaction the good brings during the act of consumption. Exchange value is the "market value" of the product.
They are very similar in concept; the major difference is in the underlying theory of value. I don't know Marxian economics that well, though.
I'm sorry if this is perhaps a little lazy an answer, but I think you will find a lot of detail on these types of questions if you consult some of Menger's rather dense footnotes(moved to the back of the book as appendices in the English translation). For instance, what he meant by use value is very different to how most modern thinkers would conceive it, and is actually what we could call subjective utillity or use value, whereas he contrasts this with a conception of "utillity" that refers only to what Mises would call "objective use value." Reading the very methodical deconstructions of various classical cost of production theories of value he makes in his appendix might also help you get closer to answering your enquiry.
Hope that helps!
"When the King is far the people are happy." Chinese proverb
For Alexander Zinoviev and the free market there is a shared delight:
"Where there are problems there is life."
Could someone give me a link to the paper, please?
I really want to read it. Thanks.
http://cje.oxfordjournals.org/content/24/1/87.abstract
Thanks but I dont have an account in the Cambridge Journal of Economics, could you upload it to some free server?
I would if I wasn't a wimp who is scared of the IP police. I'll post some quotes when I get the chance though. Sorry.