Scale of Values Violates Singularism

Dialogue, Vol. 3, 2009

11 Pages Posted: 6 Jul 2011

See all articles by Walter E. Block

Walter E. Block

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business

William Barnett

Loyola University New Orleans

Date Written: July 5, 2011

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.

Keywords: scale of values, singularism, binary, transitivity, praxeology, market process, demand curve, Austrian economics

JEL Classification: A14, B4, B25

Suggested Citation

Block, Walter E. and Barnett, William, Scale of Values Violates Singularism (July 5, 2011). Dialogue, Vol. 3, 2009. Available at SSRN: https://ssrn.com/abstract=1879554

Walter E. Block (Contact Author)

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business ( email )

6363 St. Charles Avenue
Box 15, Miller 321
New Orleans, LA 70118
United States
(504) 864-7944 (Phone)
(504) 864-7970 (Fax)

William Barnett

Loyola University New Orleans ( email )

526 Pine Street
New Orleans, LA 70118
United States

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