"Menger insists throughout his work that
value is essentially subjective, and that therefore economics must be in the main a subjective science.
Goods have no inherent value in themselves. They are valued because they help to satisfy some human want or need."
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Não, não é um texto sobre service-dominant logic.
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"in a given community the exchange value of a given increment of each good will be determined by the relation between its total available quantity and the intensity of the human need or want that it fills."
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"Thus while the classical Ricardian doctrine held that the "normal" value of consumption goods was determined by their "cost of production," the Austrian doctrine holds that the "cost of production" itself is ultimately determined by the value of consumption goods.
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These two doctrines can be partly reconciled in the statement that though
what a good has cost to produce cannot directly determine its value, what it will cost to produce determines how much of it will continue to be made. It is the limit that cost of production puts upon the total quantity of a good produced that determines its marginal value and therefore its market price."
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Agora algo que a service-dominant logic já ultrapassou com a subordinação da troca à experiência durante o uso.
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"To return to Menger: His Principles of Economics next presents a "theory of exchange." In this he points out that men do not buy from or sell to or exchange with each other merely because of a "propensity of men to truck and barter," as implied by Adam Smith, but because each man seeks to
maximize his satisfactions (
Moi ici: maximize or satisfice?) by exchanging what he values less for what he values more. In this way the satisfaction of all is increased.
Exchange is thus an integral part of the whole process of production. (
Moi ici: E para lá da troca, não esquecer a experiência do valor durante o uso ) What is being produced is value. (
Moi ici: Aqui também há contribuições importantes da service-dominant logic como ilustra esta figura sobre produção versus co-criação de valor) Menger's whole theory of price, to repeat, is developed on the basis of "
the subjective character of value.""
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E, para terminar uma referência à treta da macroeconomia neo-clássica:
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"Now "general equilibrium" is defined by these economists (when it ever is) in highly abstract and obscure phrases; but for laymen it might be defined as a condition in which all the tens of thousands or millions of commodities and services are being turned out in the exact quantities and proportions in which they are relatively wanted by producers or consumers, so that there are no "shortages" or "surpluses." All prices reflect costs, and there is no more profit in making one commodity than any other. (In fact, there is no "pure" profit at all.) These economists admit that at any moment this condition does not exist, but they contend that there is a constant long-run tendency toward equilibrium, because when there is an unusual profit in turning out some one product, producers will turn out more of it, and when there is a loss in turning out some other product, producers will make less of it, or transfer to making something else.
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The concept itself is extremely nebulous. Neoclassical economists seem obsessed today with setting up complicated algebraic equations stipulating the conditions of equilibrium or functional relations under "perfect competition" and the like, but it is difficult to specify precisely what their x's and y's stand for. They cannot refer to physical quantities, because you cannot add apples to horses, or a ton of gold watches to a ton of sand. One might add or compare quantities times prices, but what would be the meaning of the total, or any of the parts that make it up? The price, even of one commodity, differs from hour to hour, place to place, and transaction to transaction. The value of the currency itself fluctuates and constantly changes its exchange ratio with commodities. If we simply add or compare "values," then we must recognize that values are purely subjective. They are impossible to measure or to total because they differ with each individual.
If we pass over these fundamental difficulties, where do we arrive? Even if we assume that there may be a persistent long-run tendency toward general equilibrium,
we must admit that there is also a persistent short-run and long-run tendency toward the persistence of disequilibrium.
This is not only because there is a tendency of entrepreneurs, in increasing or reducing production in response to market and profit signals, to overshoot the mark, but because
individual entrepreneurs, so far from making merely automatic responses, are constantly gaining new knowledge, alert to new opportunities, changing methods and reducing production costs, improving products, innovating — turning out entirely new products or inventions. And consumers too are constantly learning, changing tastes, and demanding new products to meet new wants. So Austrian economists seldom speak of market equilibrium, but of the market process."
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Trechos retirados de "
Understanding "Austrian" Economics"
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BTW "
For Love of Laissez-Faire"
