How does each of them solve the water-diamond paradox, Macroeconomics

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How does each of them solve the water-diamond paradox

Problem

For Jevons and Menger, what is the source of value? How does each of them "solve" the "water-diamond paradox"? What are the implications of their value theory and the underlying marginal analysis for the level of wages and the "fairness" of the existing income distribution?

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Macroeconomics: How does each of them solve the water-diamond paradox

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Macroeconomics: How does each of them solve the water-diamond paradox

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