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SubjectivismValue and Exchange
The prices of goods are not set mechanically by some kind of supply-demand curves but by the goal-seeking choices of individuals.
Thanks to markets, our unchanging desires are being satisfied more and more effectively over time.
Philosophy and MethodologySubjectivism
Taxes and SpendingWar and Foreign PolicySubjectivismValue and Exchange
Taxes and SpendingSubjectivism
The value of objects can change without any physical change to the object at all. I need only tell you that some junk you see is really art.
Philosophy and MethodologyPraxeologySubjectivism
Like Mises, economist Robert Lucas understood that realities of human action make it impossible to treat economics as if it were a physical science.