Explain the significance of this, both through the requirements it imposes on economic theory as such, and by contrasting it to earlier views (especially that of Marx, and Marx’s account of use-value).

“… value depends entirely on utility.” (William Stanley Jevons)
In this assertion, Jevons lays out the entire program of neoclassical economics. Explain the significance of this, both through the requirements it imposes on economic theory as such, and by contrasting it to earlier views (especially that of Marx, and Marx’s account of use-value). Be sure to take account both of the purely subjective character of utility, and of its uniformity (that is, its capacity to be measured on a single quantitative scale).

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