Scale of values: Difference between revisions
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<blockquote>...one must not forget that the scale of values or wants manifests itself only in the reality of action. These scales have no independent existence apart from the actual behavior of individuals. … Every action is always in perfect agreement with the scale of values or wants because these scales are nothing but an instrument for the interpretation of a man's acting.<ref>Ludwig von Mises, Human Action, [http://mises.org/humanaction/chap4sec2.asp Ch. 4, Sec. 2].</ref></blockquote> | <blockquote>...one must not forget that the scale of values or wants manifests itself only in the reality of action. These scales have no independent existence apart from the actual behavior of individuals. … Every action is always in perfect agreement with the scale of values or wants because these scales are nothing but an instrument for the interpretation of a man's acting.<ref>Ludwig von Mises, Human Action, [http://mises.org/humanaction/chap4sec2.asp Ch. 4, Sec. 2].</ref></blockquote> | ||
{{See also|Subjective theory of value}} | |||
==References== | ==References== | ||
<references/> | <references/> | ||
[[Category:Economic concepts]] | |||
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Latest revision as of 22:58, 15 August 2011
A scale of values is a scale of an acting man's choices in a given situation, ranked according to subjective priority.
Ludwig von Mises wrote:
...one must not forget that the scale of values or wants manifests itself only in the reality of action. These scales have no independent existence apart from the actual behavior of individuals. … Every action is always in perfect agreement with the scale of values or wants because these scales are nothing but an instrument for the interpretation of a man's acting.[1]
See also: Subjective theory of value
References
- ↑ Ludwig von Mises, Human Action, Ch. 4, Sec. 2.