Tuesday, July 17, 2018

Price and Contingency

On the one hand, as has been previously discussed, as the distribution of affordability approaches equality, the Price of a commodity might approach zero, i. e. if conspicuousness is the motive for purchasing it.  On the other hand, as also has been previously discussed, as the distribution of affordability approaches equality, Price might increase, i. e. if inconspicuousness is the motive for purchasing it.  But there is no "paradox of value" involved in the conjunction of the two cases.  For, plainly, they illustrate a contingency of Price that eludes attempts to impose a law-like formula on it.  The inadequacy of those attempts is rooted in a fundamental error of many Economic theories--the premise that regularity inheres in Economic behavior other than when vital need is a determining factor.

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