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If, in modern discourse, there are certain subjects that draw the great minds from both economics and philosophy to the same debate, then as a student majoring in both economics and philosophy, I am in a unique position to examine this debate. Recently the philosophy of environmentalism has experienced...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: A Mengerian Solution to the Diamond-Water Paradox In section C of the chapter on value in Principles, Menger shifts from questions of quantity to...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger on Multi-Purpose Homogenous Goods Let us say two men want to make a trade. One man offers water, the other diamonds. The water seller has a...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger's Value Scale . In Section 2, Part B of his chapter on value, Menger discusses "the dependence of separate satisfactions on particular...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Mengerian Marginalism A chief insight of Menger's value theory is the recognition that, it is not enough to simply ask the question, "which...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Further Mengerian Insights on Value The most important opening shot of the Marginal Revolution was fired with the following passage: careful examination...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger and Value-Free Universals Utility is not Use Value All goods have utility, because, by definition, goods have the ability to satisfy needs...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Value Theory Before Menger To understand Menger's insight into value (and the Classical School's lack thereof), it would be useful to brush...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger on Wealth and Prosperity What is it that gives a good its value? Throughout the history of thought, there have been two kinds of theories regarding...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger and the Teleological Nature of Economics The following are Menger's main points in his discussion on wealth: A person's wealth, as...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Economic Character of Higher Order Goods and the Deductive Method of Menger Thus far, Menger has established that higher order goods only have goods...
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This post is part of a series exploring Principles of Economic s by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Natural Communism the existence of requirements for goods of higher order is dependent upon the corresponding goods of lower order having...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Economic vs. Non-Economic Goods As discussed before, economic goods (goods for which requirements exceed available quantities) necessitate...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Property If a good is scarce (that is, if requirements for it exceed its available quantities), then it is an economic good, which is to...
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This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Economizing We do not live in paradise. There is always scarcity: requirements in society always exceed available quantities. Therefore...