The Bitcoin Standard Podcast cover image

168. Available now: Principles of Economics!

The Bitcoin Standard Podcast

CHAPTER

The Importance of Utility in Economics

In Austrian economics, we understand that value is ordinal rather than cardinal. Cardinal valuation refers to attributing a numerical valuation to each one of those economic goods. And so, for all economic schools of thought, value is usually expressed in an objective way. There is a valuation and it is a number and you can put a number on valuation.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner