582 THE AMERICAN JOURNAL OF SOCIOLOGY
To this theory the objection has been made that even the quite isolated economic man — he who neither sells nor buys — must estimate his products and means of production according to their value, if expenditures and results are to stand in proper relation to each other. This objection, however, is not so striking as it appears, for all consideration whether a definite product is worth enough to justify a definite expenditure of labor or other goods is, for the economic agent, precisely the same as the appraisal which takes place in connection with exchange. In confronting the concept "exchange" there is frequently the confusion of ideas which consists in speaking of a relationship as though it were something apart from the elements between which it plays. It means, however, only a condition or a change within each of these elements, but nothing that is between them in the sense of a spatial object that can be distinguished in space between two other objects. When we compose the two acts or changes of condition which in reality take place into the notion "exchange," the conception is attractive that something has happened in addition to or beyond that which took place in each of the con- tracting parties. Considered with reference to its immediate content, exchange is nothing but the twofold repetition of the fact that an actor now has something which he previously did not have, and on the other hand docs not have something which he previously had. That being the case, the isolated economic man, who surely must make a sacrifice to gain certain products, acts precisely like the one who makes exchanges. The only difference is that the party with whom he contracts is not a sec- ond sentient being, but the natural order and regularity of things, which no more satisfy our desires without a sacrifice on our part than would another person. His appraisals of value, in accordance with which he governs his actions, are, as a rule, precisely the same as in the case of exchange ; for the economic actor, as such, it is surely quite immaterial whether the sub- stances or labor-energies in his possession are sunk in the ground or given to another man, if only there accrues to him the same result from the sacrifice. This subjective process of sacrifice and gain in the individual soul is by no means something secondary
