Sunday, July 13, 2014

Rap Song: Value is Subjective


  1. Okay, that hella awesome. I hope MM&RL hear the song and spotlight it. They definitely agree with the principle- "Thrift Shop" is ALL about subjective value!

  2. I remember on the Wenzel/Kinsella debate Wenzel said that if a competitor makes 'his' product then it lowers the price of 'his' product. Seems Wenzel thinks value is more than subjective and is a property right when he says if you make 'his' product you are stealing the value of his products from him...


    1. Nice try, but you are confusing subjective value and prices relative to a supply curve. They are two different things.

    2. RW-

      Yeah, Dan has a twisted model in his brain case.

      Case in point- Coconuts. Half my family LOVES it (and I cook with coconut oil) and half hates it. My aunt brought a homemade Coconut cake for lunch- half RAVED about it, the other half refused to taste it since coconut tastes like cardboard dipped in evil and then shredded and dried to maximize the hateful awfulness.

      Value is subjective.

  3. It's really absurd the Austrians are the only ones whose methodology and method are compatible with subjective value.