Scale of Values Violates Singularism

Authors

Keywords
Scale of values, singularism, binary, transitivity, Austrian economics, praxeology, market process, demand curve

Summary
There is at the very least a tension between two basic building blocs of Austrian economics. The doctrine of singularism maintains that choice is inevitably and necessarily between two and only two things: that which is chosen, and the next best alternative, which is set aside. However, implicit in the concept the scale of values is the claim that choice can take place over many, many alternatives. If one of these has to be jettisoned, and we argue that one must be, then we vote for the latter.

JEL: A14, B4, B25
Pages: 11
DOI: 

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