Tag: von Mises

How Two Can Make One: Nietzsche on Truth, Mises on Value, and Arendt on Judgment

Nietzsche, The Gay Science: Multiplication table. —One is always wrong, but with two, truth begins. —One cannot prove his case, but two are irrefutable. (§260) Ludwig von Mises, Socialism: Computation demands units. And there can be no unit of the subjective use-value of commodities. Marginal utility provides no unit of value…. In an exchange economy, the objective exchange value of commodities becomes the unit of calculation….We are able to take as the basis of calculation the valuation of all individuals participating in trade. The subjective valuation of one individual is not directly comparable with the subjective valuation of others. It only becomes so as an exchange value arising from the interplay of the subjective valuations of all who take part […]