Subjective Value

Purchasing Power of Money

Price is the result of the subjective valuations of the exchangers. One good is being exchanged for another. The exchangers … Read the rest

It should be clear, nothing has value in itself, only the naïve would think this. In other words, value is … Read the rest

Value judgments express preferences of the acting individual. Action is aimed at the substitution of one state of affairs for … Read the rest

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