“The scale of value is nothing but a constructed tool of thought. The scale of value manifests itself only in real acting; it can be discerned only from the observation of real acting. It is therefore impermissible to contrast it with real acting and to use it as a yardstick for the appraisal of real actions.” – Ludwig von Mises
Praxeology is concerned with that part of value scales that can be ascertained from actions.
Price implies value scales—the latter (ideas) can be ascertained only through the former (actions).
“In praxeology we are not interested in the concrete content of his value scales nor in his underlying personality. We are interested in value scales as revealed through choice.”
“We deduce the existence of a specific value scale on the basis of the real act; we have no knowledge of that part of a value scale that is not revealed in real action.”
Next:
- 13-6a The same individual exhibits different scale of values at different times
- 13-7 Value scales consist of specific units, and associated subjective utilities
Related:
- 13-8a2b Prices do not exhaust value scales, but value scales can be ascertained only through prices in money economy
- Ranked values
- Praxeology is content-independent