>Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act. --Ludwig von Mises
A 'price' is a historical datum of an exchange. I valued my thing at X of your things, probably in terms of monetary units; you likewise valued my things in some sort of agreeable way that we voluntarily made an exchange.
"Intrinsic value" implies, "People will like this shit no matter what." Real value is subjective and only created by acting human beings.
A 'price' is a historical datum of an exchange. I valued my thing at X of your things, probably in terms of monetary units; you likewise valued my things in some sort of agreeable way that we voluntarily made an exchange.
"Intrinsic value" implies, "People will like this shit no matter what." Real value is subjective and only created by acting human beings.