2min chapter

The "What is Money?" Show cover image

The Value of The Individual | The Mike Hill Series | Episode 4 (WiM123)

The "What is Money?" Show

CHAPTER

Oxygen Is Not an Economic Good

In an austrian lens, things only become economic goods once demand outstrips supply. Once dynamic quality outstrips static quality, that means thereis more demand for the thing than there is of the thing. So all of a sudden it develops a market price and starts to be exchanged. It's incredible n just as youen on that, you know, god is good. God has his ethymological root in the word, both words, both good and exchange. The concepts of good and exchange are so fundamental to an economy which is a microcosm of this larger dynamic or describing of dynamic quality.

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