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Carl Menger's Principles of Economics - I

Hermitix

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The Causal Connection Between Goods and Time

Manga states that we need to look at it within the measure of time. Goods of a higher order cannot simply be transformed into goods of a lower order within an instant. This process takes time. A shoemaker whose goods reside within the first order, you put on a pair of shoes, your needs of shoes is satisfied. People in the future are going to want bread. These are needs that will still be experienced even when production of lower order goods. So that is really the causal connection between goods section and time and error.

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