#Austrian_Economics

Of course most humans need objective evidence or objective reasons for them to assign value to something.

Without the objective reasons the entity being considered for valuation would not stand firm and rather have short legs and “evaporate” into nothing. That happens to lies, scams, fallacies, …

The fundamental is, “value” is a matter of relativism, an ordinal entity, a subjective and situational comparison.

“Value” is not a matter of absolutism, a cardinal entity, an inherent attribute of an entity.