Friday, September 12, 2014
False dichotomy between profit and utility
The whole difference between the economic analysis of a consumer and that of a producer for the market is this: when you analyze a consumer you only pay attention on how the consumer tries to optimize value for himself while when you analyze a producer for the market you pay attention on how the producer tries to optimize value for buyers as a means to optimize value for himself.
Labels:
entrepreneur,
praxeology,
semantics
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