Quote:
Originally Posted by Skybird
There is no intrinsic value, but then there is. Its - a bit complicated.
https://smilingdavesblog.wordpress.c...trinsic-value/
I know that things have no intrinsic value. Only the value attributed by market participants. Still, as the short article explains, "Austrians" nevertheless talk of intrinsic value, but they mena something special with it. Its context-sensitive.
Read that article, its not long. |
What is described as "intrinsic" value is more or less irrelevant in case of money in my opinion, as you cant eat gold.
(and I am not a big fan of Mises)