Audio Mises Wire

Home | Mises Library | The Objective Science of Subjective Value

The Objective Science of Subjective Value

Audio Mises Wire

Tags PhilosophyAustrian Economics OverviewOther Schools of ThoughtPhilosophy and MethodologySubjectivism

11/01/2023Per Bylund

While most economists admit that value is subjective, they still err by concentrating on scarcity and choice instead of purposeful action by individuals.

Original Article: The Objective Science of Subjective Value

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Author:

Contact Per Bylund

Per Bylund, PhD, is a Senior Fellow of the Mises Institute and Associate Professor of Entrepreneurship and Johnny D. Pope Chair in the School of Entrepreneurship in the Spears School of Business at Oklahoma State University, and an Associate Fellow of the Ratio Institute in Stockholm. He has previously held faculty positions at Baylor University and the University of Missouri. Dr. Bylund has published research in top journals in both entrepreneurship and management as well as in both the Quarterly Journal of Austrian Economics and the Review of Austrian Economics. He is the author of three full-length books: How to Think about the Economy: A Primer, The Seen, the Unseen, and the Unrealized: How Regulations Affect our Everyday Lives, and The Problem of Production: A New Theory of the Firm. He has edited The Modern Guide to Austrian Economics and The Next Generation of Austrian Economics: Essays In Honor of Joseph T. Salerno

Original Article: 
The Objective Science of Subjective Value