Tag Archives: eugen_von_bohm_bawerk

Political Economy Quote of the Week for 20160314

“… exchange value as well as use value—are kinds of subjective value. Use value is the importance which a good obtains for the welfare of a person, on the assumption that it is used immediately in furthering his wellbeing; and, similarly, exchange value is … Continue reading

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Political Economy Quote of the Week for 20160307

“… the value of a good is measured by the importance of that concrete want, or partial want, which is least urgent among the wants that are met from the available stock of similar goods.” – Eugen von Böhm-Bawerk, The Positive Theory of … Continue reading

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Political Economy Quote of the Week for 20160229

“Possibly I have wasted too many words in proving a truth so obvious that no thinking man unskilled in science would ever doubt it. Every child knows that a piece of capital, say a hammer, must be produced if it is to … Continue reading

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Political Economy Quote of the Week for 20160222

“We see, therefore, as a fact, an intimate connection between saving and formation of capital. If no individual saves, the people, as a whole, cannot accumulate capital, because the great consumpt of consumption goods forces the producers, by the impulse of prices, so to … Continue reading

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Political Economy Quote of the Week for 20160215

“Again, if the present stock of capital is to be increased, it is evidently necessary that the community give up a portion of the consumption which it might have enjoyed—while still maintaining the stock at its former height;—that it withdraw a portion of … Continue reading

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Eugen von Böhm-Bawerk: Leading Austrian Economist and Finance Minister of Fiscal Restraint by Richard M. Ebeling

‘We live at a time when politicians and bureaucrats only know one public policy: more and bigger government. Yet, there was a time when even those who served in government defended limited and smaller government, one of them being the … Continue reading

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Political Economy Quote of the Week for 20160208

“… before capital can actually be formed, the productive powers necessary to its making must be saved …” – Eugen von Böhm-Bawerk, The Positive Theory of Capital.

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