Upload

Loading...

Subjective Value

22,804

Loading...

Loading...

Transcript

The interactive transcript could not be loaded.

Loading...

Loading...

Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Uploaded on Jun 29, 2011

Prof. Don Boudreaux demonstrates the subjectivity of value by comparing a Che Guevara and Milton Friedman t-shirt. He finds that value cannot be determined objectively, as the value of the thing is held only the mind of the beholder. Therefore, value is not a product of the amount of labor or resources required to make it. Rather, value is determined by the preferences of individuals.

Watch more videos: http://lrnlbty.co/y5tTcY

  • Category

  • License

    • Standard YouTube License

Loading...

When autoplay is enabled, a suggested video will automatically play next.

Up Next


to add this to Watch Later

Add to

Loading playlists...