Exchange value on a right, the importance of what I can get by handing over the property on such a right, is the one social link which can keep peace among selfish people. (The only other social link is love: the disposition to undertake human actions just for the sake of contributing to the happiness of the other.)
Exchange value can be improved by others making better offers. This is how the efforts by others to improve their productivity benefits me.
Monday, August 17, 2009
Sunday, August 2, 2009
On the definition of good
A good can only be caracterized as such ex post facto. Before a would-be good being effectively bought (autistically or interpersonally exchanged for a price), there's no praxeologic way of distinguishing it from a general condition of welfare.
Interpersonal versus autistic exchange
The distinction between interpersonal and autistic exchange is engineerial, not praxeologic.
Subscribe to:
Posts (Atom)