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Pastimes : Austrian Economics, a lens on everyday reality
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To: Don Lloyd who wrote (244)9/10/2003 10:55:34 AM
From: TimF  Read Replies (1) of 445
 
In all your hypothetical exchanges I would imagine that the subjective utility to each person increases.

For example -
"1. 2. I give you a $100 FRN and you give me back 5 $20 FRNs."

The person who gets the 5 $20s might need change. The person who gets the $100 might want to save room in his wallet without losing money or he might care about the 5 20s equally as much as the 1 100 but he benefit from a return favor in the future from the other part in the trade or just from the feeling that he helped someone.

Tim
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