Many people have the impression that business owners unilaterally determine wages and prices. They believe that consumers have […]
Last week I discussed value as it relates to the recent volatility in the stock market. Some commentators […]
People value securities based on the subjective preferences in the same way that value any economic good.
Exchanges provide us with the objective information we need to make affirmative statements about market activity and what drives it.
See how, for you, every determination of value results from your own subjective judgment…
A dollar cannot represent the value for an item of less value than a dollar
Probably the most popular concept of value incorporates the cost of production. The idea here is that any […]
Source Some people believe that, since all economic goods require some amount of labor to produce (even “free” […]
Believing that the value of a thing resides within an object or action seems like an easy approach […]
In spite of the importance of value to the development of sound economic theory a lot of people […]