The discrete nature of humans makes the individual the center of all market activity. They decide what has […]
Because I will frequently return to the subject of value, and its measure, over the course of these […]
The source of value has huge significance in the development of economic theory.
In a previous post I introduced the topic of Subjective Value. I used an anecdote to demonstrate how […]
Since the beginning of economics as a specialized study, economist have realized that the concept of value lies […]
After a prolonged hiatus, I want to return to my discussion of value theory. A workable theory for […]
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 […]