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The Law, by Bastiat
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"Peace depends on freedom, and freedom depends on defeating those who would destroy the peace and abrogate liberty"


Lesson 66 - Scarcity and Surplus Print E-mail

 

Similarly, we buy gasoline because it enables us to enjoy the convenience, comfort, and utility of an automobile.

We would just as soon pour water or sand into the tank, if we could obtain the same performance from the car by doing so.

Consider the art and craft of advertising.  Advertising rarely tells you about the intrinsic qualities or construction of a product. 

Rather, advertising seeks to stimulate your imagination and your desire to be satisfied.

Some people appear to value money.  They don't really.  What they value are the things they can do and the satisfactions they can obtain by spending the money. 

In short, they look forward to the satisfactions they will obtain when they exchange their money for the goods and services they desire.

The point to understand is that the value mechanism is characteristically individualistic and wholly subjective.

 

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Fundamentals of Liberty