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Scale of Values Violates SingularismWalter E. BlockLoyola University New Orleans - Joseph A. Butt, S.J. College of Business William Barnett IILoyola University New Orleans July 5, 2011 Dialogue, Vol. 3, 2009 Abstract: There is at the very least a tension between the two basic building blocs of Austrian economics. The doctrine of singularism maintains that is inevitably and necessarily between two and only two things: that which is chosen, and the next best alternative, which is set aside. However, implicit in the concept of the scale of values is the claim that choice can take place over many, many alternatives. If one of these has to be jettisoned, and we argue that one must be, then we vote for the latter.
Number of Pages in PDF File: 11 Keywords: scale of values, singularism, binary, transitivity, praxeology, market process, demand curve, Austrian economics JEL Classification: A14, B4, B25 Accepted Paper SeriesDate posted: July 6, 2011Suggested CitationContact Information
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