Scale of Values Violates Singularism
Walter E. Block
Loyola University New Orleans - Joseph A. Butt, S.J. College of Business
William Barnett II
Loyola University New Orleans
July 5, 2011
Dialogue, Vol. 3, 2009
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, B25Accepted Paper Series
Date posted: July 6, 2011
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