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Justice, Dynamism, and Social Order: Of Wars and Markets | Prof. Catherine Pakaluk

The Thomistic Institute

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The Theory of Subjective Value

Every exchange produces a scene and unseen sum of value, like the case of the loss limb. That which is unseen is subjectively tied to the person. Value indicates the potential capacities of an object to satisfy human needs. The estimation or accounting of that value cannot be approached through any mathematical sum. It is inestimable. Not in the sense of having infinite value for sure but in thesense of being unknowable.

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