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Along with all modern schools of economic thought, the Austrian school maintains that human value judgments are subjective and ordinal. Yet these subjective preferences determine market prices, which are expressed in terms of objective, numerical quantities of money. How does the Austrian school explain...
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Every once in a while I begin looking into and thinking about a certain problem facing society and how/if capitalism can solve that problem. Reading Doug Casey's article Charity? Humbug! (the URL is http://libertyunbound.com/archive/2006_11/casey-charity.html) made me think about the subject of the...