Among the key insights of Austrian economics are that humans act and value is subjective. These observations seem obvious and uncontroversial…essentially truisms. But they’re often forgotten, neglected, or misunderstood.
Each person’s perspective is informed by innumerable variables that influence his values. An Englishman thinks a hundred miles is a long way. An American believes a hundred years is a long time. Is either, neither, or each of them right? Who’s to say?
Would a woman rather receiv...
Published on February 26, 2025 21:01