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Human Action: A Treatise on Economics Part 1

Mises Audio Books Podcast

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The Origins of Interpersonal Exchange

To make presents in the expectation of being rewarded by the receiver's return present is already tantamount to interpersonal exchange. The same applies to dumb barter, which is distinguished from other s of bartering and trading only through the absence of oral discussion. It is the essential characteristic of the categories of human action that they are apidictic and absolute and do not admit of any gradation. No gradual transition is conceivable between artistic and interpersonal exchange.

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