3-1a4b7 The monetary account will increasingly explain the world—especially as it pertains to the human actions—though never exhaustively

Doesn’t the first sentence of the following quote constitute infinite regress?revisit

“Nonexchangeable factors for an owner of a stock of consumers’ goods or of producers’ goods will generally be negligible in importance, since they had already been discounted when the investment in them was made. If we set aside the value of the durable consumers’ good in direct use for some owners, the aim of the owners will be to maximize their money income from the stock of the good. The previous investors expected that he would be able to sell the good for a money income greater than the money expenditures that he had to make on the factors of its production. This investment decision accounts for the existence of all the stock of all producers’ goods and durable consumers’ goods for any community at any given point in time.” – Murray Rothbard on what determines the size of the stock of goods

“Individuals, on their value scales, evaluate a given stock of goods according to their utilities, setting the prices of consumers’ goods; the stock is produced according to previous decisions by producers, who had weighed on their value scales the expected monetary revenue from consumers against the subjective costs (themselves simply utilities forgone) of engaging in the production. In the former case, the utility valuations are generally (though by no means always) the ones made by consumers; in the latter case, they are made by producers. But it is clear that the determinants of price are only the subjective utilities of individuals in valuing given conditions and alternatives. There are no “objective” or “real” costs that determine, or are co-ordinate in determining, price.” – Murray Rothbard

Next:

• 3-1a4b8 With few exceptions, buy on the cheapest market and sell on the dearest leads to satisfaction of the most highly valued ends of each individual, both as consumer and as a producer

Related:

• Likely a key to solve the aforementioned paradox
  • 13-1a3a2e2a Money and differences in the economy are reflexive
  • 13-1a3a2d3b Value scales and money are reflexive—value scales become more actionable with money, because money changes the topology of value scales
• On saving
  • 13-5b1a Saving is not necessarily a monetary phenomenon—the restriction of present consumption constitutes saving
  • 13-5b1b Saving cannot be exhaustively measured in monetary terms
• Never exhaustively, because prices are derived from subjective values
  • 13-4d5 Prices are derived from subjective values
• And also because what’s been maximized is psychic income, and not monetary income
  • 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
• 11-2a Invest for the wealth it can generate, not for the money per se