Collections of Goods

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Table of Content see: 

001 - Table of Content and Introduction

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Transcript:

Man, Economy and State 2009, chapter 1, pages 23-27

Our solution of the paradox of value is based on one assumption:

A pineapple can be interchangeably used for any other pineapple, thus any additionally available pineapple slightly reduced the market value of pineapples.

Similar goods of the same quality can be considered as collection.

It does not matter which package of table salt is opened first, if they are of the exact same quality.

However, similar goods of different quality are considered as separated means to fulfil a need.

A customized good is usually better in fulfilling a need compared to a mass-produced good.

Again the human actor decides when goods are considered as collection:

Fresh pineapple and canned pineapple cannot be interchangeably used as an offering for honoured guests.

But as an ingredient for Hawaiian pizza both variants of pineapple produce delicious results if prepared correctly.

 

Support and Sources:

August Heinrich Barbarossa provides an Austrian view on the world. Videos will be released in English and German. Support August on Patreon: https://www.patreon.com/ahbarbarossa

 

Man, Economy and State, Murray Rothbard, 2nd Scholar's edition, Copyright 2009, Ludwig von Mises Institute, Auburn, Alabama: E-book and audio-book on mises.org

 

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