The Theory Of Money And Credit (Ludwig Von Mises)
- Highlight Loc. 699-702 | Added on Monday, October 10, 2011, 03:58 AM
From the point of view of the person making the valuation, the calculation whether a certain act of production would justify a certain outlay of goods and labour is exactly the same as the comparison between the values of the commodities to be surrendered and the values of the commodities to be acquired that must precede an exchange transaction. For this reason it has been said that every economic act may be regarded as a kind of exchange.
- Highlight Loc. 699-702 | Added on Monday, October 10, 2011, 03:58 AM
From the point of view of the person making the valuation, the calculation whether a certain act of production would justify a certain outlay of goods and labour is exactly the same as the comparison between the values of the commodities to be surrendered and the values of the commodities to be acquired that must precede an exchange transaction. For this reason it has been said that every economic act may be regarded as a kind of exchange.
