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Nalezeno "subjective theory of value": 2

Diamonds and the Treasury Debt Ceiling: Why Nothing Has ‘Intrinsic Value’ in Economics

15.7.2019
The U.S. Treasury Department has just issued an urgent letter requesting a lift on the debt ceiling, warning Congress of imminent financial collision in September as federal cash is running out. Though this scenario has played out many times before, it takes on special significance now in light...

Our Value of Money Is Subjective But That Doesn’t Make It Meaningless

14.5.2019
In my last op-ed, I discussed how the value we place on items and goods is subjective based on Carl Menger’s Subjective Theory of Value and how these concepts apply to people’s perception of value with things like fiat, gold, and bitcoin. The post outlined the idea that money cannot...