“The costs involved in the decisions made by the owners of the factors are subjective and cannot be precisely determined by outside observers or be gauged ex post by observing accountants.”
Related:
- 3-1a4b7 The monetary account will increasingly explain the world—especially as it pertains to the human actions—though never exhaustively
- 13-1a3a2d1 Money superimposes direct use-values of things onto a commensurable unit
- 13-1a3a2d3 Value scales are unified individually—they become more transparent, more measurable, and more comparable to the individual—with money, although never exhaustively
- 13-1a3a2d3b Value scales and money are reflexive—value scales become more actionable with money, because money changes the topology of value scales
- 13-4d3 Values cannot be measured
- 13-4d4 Value is subjective
- 13-9 Man allocates everything so that each unit goes into the use with the highest prospective marginal utility on his value scale—i.e., in accordance with the principle of maximizing his psychic income