Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Austrian Economics, a lens on everyday reality -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (248)	9/10/2003 7:04:31 PM
From: Wildstar	Read Replies (1) \| Respond to of 445

Don, Another way, which we will use, is to categorize economic goods by how (not just how much) an individual values them, which can vary from one individual to another for the same economic good. When a specific quantity of an economic good is valued by an individual for its capability of serving as a means of achieving a desired end, this economic good is said to have a direct 'subjective use-value', or utility. Alternately, when an economic good is held for the purpose of later acquiring other economic goods, this economic good is said to have an 'exchange value'. I agree that economic value can be categorized into direct-use value and exchange value. However, even in both categories, value still stems from the good's ability to achieve ends, whether those ends can be reached with the use of that good directly, or through anticipated future exchange of that good for other goods. Thus, I am confused by the source of our disagreement, or even whether one exists. Are you saying that my two examples demonstrated exchange-value only? If so, I agree. Wildstar