To: Don Lloyd who wrote (117 ) 9/16/2002 1:18:05 AM From: Don Lloyd Read Replies (2) | Respond to According to Austrian Economics, all economic values are subjective, and market prices are the result of individual subjective valuations. For a consumer in a money-based market economy, the existing market array of the money prices of goods, as perceived, is the primary external factor that determines his subjective ordinal rankings of the comprehensive states of satisfaction achievable through the actions of exchanging money for goods, as well as providing a basis for valuing as future purchasing power the remaining cash balances included in those states. In turn, the exchange actions taken help determine the future market array of the money prices of goods by sequentially removing the chosen goods from the market beginning from the low end of their price distributions.
