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  • Does money “measure” the price or value of a thing

    Am I stating this correctly? Temperature is measured primarily by a thermometer. The thermometer expresses the temperature in Fahrenheit, Celsius, Kelvin, etc. This means that temperature is objectively measurable. (Simply, that if ten thermometers were placed inside a bucket of 50°F water all ten...
    Posted to Economics Questions (Forum) by VA on Wed, Jul 14 2010
  • Ludwig von Mises: "Socialism"

    "But computation demands units. And there can be no unit of subjective use-value of commodities. Marginal utility provides no unit of value. the worth of two units of a given commodity is not twice as great as one--although it is necessarily greater or smaller than one. Judgments of value do not...
    Posted to Economics Questions (Forum) by ChroMattic on Thu, Feb 25 2010
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