The Positive Theory of Capital by Eugen V. Böhm-Bawerk

Author:Eugen V. Böhm-Bawerk [Eugen V. Böhm-Bawerk]
Language: eng
Format: epub
ISBN: 9781610160926
Publisher: G. E. Stechert & Co.
Published: 1930-11-06T16:00:00+00:00

1 Menger, Grundsätze, p. 153. Of course now and then exchanges may be made simply to show some person a kindness; perhaps to conceal a present, or a charity in the guise of an exchange. But such cases form only a quite insignificant minority.

2 Grundzüge, part ii., in Conrad’s Jahrbücher, vol. xiii. p. 486.

1 Grundzüge, p. 480.

1 It will be observed that our author does not confine the word Price to Money price, but applies it to the equivalent good or goods obtained in exchange for what is, pre-eminently, the good—the object of demand from buyers, and of supply from sellers. The convenient word Preisgut I render by “price equivalent,” or simply “equivalent.”—W. S.

1 Say, e.g., that A values his horse at five casks of wine, while B values it at fifteen, then, if the horse goes for ten casks, each gains an amount of value represented by five casks of wine. If A values the horse at eight and B values it at twelve, each gains only a value of two casks. Finally, if both agree in valuing the horse at twelve casks of wine, B, of course, would be glad to get the horse for ten casks, or for any price under twelve casks, but A, naturally, would not give it him at that price. See Menger, Grundsätze der Volkswirthschaftslehre, p. 155.

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