“With few exceptions—e.g., the laborer who spurns a higher money price for his labor because of the nonexchangeable conditions attached to the work, or the investor who spurns a greater prospective income for a line of production that he prefers for its own sake—aside, pursuit of the rule: “Buy on the cheapest market and sell on the dearest” leads to satisfaction of the most highly valued ends for each individual, both as a consumer and as a producer.” – Murray Rothbard
Related:
- 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
- 13-1a3a2d3 Value scales are unified—they become more transparent, more measurable, and more comparable—with money, although never exhaustively
- 13-4d4 Value is subjective