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subjective theory of value

Diamonds and the Treasury Debt Ceiling: Why Nothing Has ‘Intrinsic Value’ in Economics

</header> <strong>The U.S. Treasury Department has just issued an urgent letter requesting a lift on the debt ceiling, warning Congress of imminent financial collision in September as federal cash is running out. Though this scenario has played out many times before, it takes on special significance now in light of president Trump’s recent comments about …

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Our Value of Money Is Subjective But That Doesn’t Make It Meaningless

<header class=”article__header”> </header> <strong>In my last op-ed, I discussed how the value we place on items and goods is subjective based on Carl Menger’s Subjective Theory of Value and how these concepts apply to people’s perception of value with things like fiat, gold, and bitcoin. The post outlined the idea that money cannot serve as …

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Putting an End to the Bitcoin Store of Value Fallacy

<strong>Over the last few years, many have claimed that bitcoin core (BTC) has turned into, or will soon become, a store of value (SoV). Proponents of the BTC-based SoV theory seem to think that money can somehow store value and if it’s held long enough, the price will be higher or predictably useful when spent …

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