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Pastimes : Austrian Economics, a lens on everyday reality
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To: Don Lloyd who wrote (293)11/16/2003 12:59:33 AM
From: Wildstar  Read Replies (1) of 445
 
To summarize Callahan's article:

To the degree that different objects are not valued unequally to satisfy some end, they are the same economic good, and any choice between them is economically irrelevant.

To the degree that different object are valued unequally to satisfy some end, they are different economic goods, and any choice between them reveals preference for the chosen good over the others.

In the end, choice always reveals economically meaningful preference.
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