Praxeology - Episode 7 - Scale of Values

In this episode I explain how Praxeology determines an actor's scale of values (preference).

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[viavulpinus]

hey praxgirl! shut up and show us your tits!

[praxgirl]

@viavulpinus learn Praxeology and maybe you'll be able to make enough money to pay someone for that

[Illyrien]

@praxgirl

I guess people are motivated to learn economics for rather different reasons :)

How about you, what caused you to start? And how did you find praxeology

[mulllhausen]

the goal of an action may not become apparent until much later. short term goals may build towards a long term goal and confuse the observer into thinking that the final goal has already been acheived when in fact it has not

[MrJezagee]

@jeffiek I understand what you think it means... Praxgirl explains that NOTHING has intrinsic value... You can disagree with her if you like...Personally I like the way she explains it... And I still think she is correct to say that human action that gives things value and not something innate. Gold would have no value if humans where not here to give it value... so the value comes from us... not from the gold

[jeffiek]

@MrJezagee Yes and no. Beware context sensitivity here. "intrinsic value of gold" refers to the fact that the "value" is contained within the gold, i.e., an ounce is an ounce and there isn't a damn thing Bernanke can do about that. This is in contrast to a dollar, where actions external to the dollar can change its "value".

[MrJezagee]

This is why Peter Schiff is wrong when he uses the term Intrinsic when he talks about gold. I doubt he could watch this series without learning something amazing from Praxgirl. I hope Praxgilr becomes a Bitcoin :) I hope my micro makes a difference.

I donated to Praxgirl BTC number 1EEGdU6trKh6tmZqV94Uo1rgkNJVKT­eLZ2

[TreeLuvBurdpu]

It's pronounced U-Two, not Youto.

[swu880]

@quidproquo2004

Simple is by no means easy or even most understood.

1+1 = 2 is simple, but judging from a lot of american schools, it is by no means most understood and the implications are by no means easy

The fact 1+1=2 implies by extension the derivative of x^3+6x^2 = 3x^2 + 12x. but not that many people know or even understand that. yet the implications and applications are staggering. It is the simple stuff that is often most difficult to fully grasp and yet the most widely applicable

[quidproquo2004]

This is just too simplistic to be of value.

[blapgatify]

What a great resource. Thanks Praxgirl

[AuthenticSystems]

@LibertarianChristian

Austrian economics was one of the most dominant theories in world finance at one time, until the United States demanded a more objectively measured approach and many other erroneous reasons.