Order Without Organizations with Aneesh Karve (WiM141)
The "What is Money?" Show
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The Importance of Price
Carl Menger invented marginal utility and he also showed that the concept of marginal utility applies to higher order goods. So it isn't just the first or goods we purchase in the marketplace it's not just finished goods or the consumer goods, they're all these capital goods. And so the price is so information dense because the participation of so many, the economic calculation for first order goods and for capital goods together goes all together to form that price. This is why catalaxy has such a powerful and information conveying process.
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