5min chapter

The "What is Money?" Show cover image

How to Think About the Economy with Per Bylund (WiM248)

The "What is Money?" Show

CHAPTER

How Do We Measure Value and Satisfaction?

Economics is based on people acting and people act motivated by something that they personally find valuable. And personal valuations, subjective values, sort of what we usually call it, can't really be measured. So in order to just figure out what the heck is it that we're observing, we need a theory to begin with.

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