THE NOTION THAT NOTHING HAS INTRINSIC ECONOMIC VALUE, NOT GOLD, NOT REAL ESTATE, NOT EVEN FOOD, IS DEEPLY COUNTERINTUITIVE.
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VALUE EXISTS ONLY IN HUMAN MINDS AND THROUGH HUMAN PREFERENCES, MAKING ALL OBJECTIVE THEORIES OF VALUE FUNDAMENTALLY FLAWED.
#AustrianEconomics #BitcoinEducation #nostr
We project value into things not the other way round. It was a copernican revolution in the field of economics. It reminds me of Fichte and the idealism school of philosophy.
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The perceived value of a single object shifts across observers, time and space.
A pair of shoes.
Beautiful.
Yes but they’re too large.
Now I grew up.
They are perfect for me but I have shoes already.
Months after I am barefoot on the midday sand, dreaming about those now old and broken shoes.
