The existence of prices in terms of money makes subjective valuation easier, but nothing more.
“The marginal utility of money differs from person to person, just as does the marginal utility of any other good. There is no measuring or comparability in the field of values or ranks. Money permits only prices to be comparable, by establishing money prices for every good.”
Next:
- 13-1a3a2d3a The number of markets needed is immeasurably reduced with the establishment of a money economy
- 13-1a3a2d3b Value scales and money are reflexive—value scales become more actionable with money, because money changes the topology of value scales
- 13-1a3a2d4 The purchasing power of money in terms of all other commodities is continually changing, and there is no way to measure such changes
Related:
- 13-1a3a2e Some products are produced because of the greater extent of the market
- 13-1a3a2e2 The introduction of money creates the money market wherein everything can be exchanged for anything in the economy
- Value is subjective
- Never exhaustively
- 3-1a4b6 The importance of the monetarily accountable compared to the unaccountable increases indefinitely, although the former never exhausts the latter
- 5-1b1a2c0 No theory can exhaust reality
- 13-8a2b Prices do not exhaust value scales, but value scales can be ascertained only through prices in money economy