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An interesting bit from “The Last Whole Introduction To Agorism” by Samuel Edward Konkin III…


Austrian economics answered questions.

Q: Why do we value and how?
A: It is inherent in everyone and it is subjective.

Q:
Why do we give up anything at all ever?
A: Because we subjectively value A more than B while some Other values B more than A. We do not relinquish; we acquire a greater value.

Q:
But why would anyone give up something that is universally (or as close as possible)  subjectively valued for something of less value?
A: Because that one-thousandth unit of the seemingly more valuable is less subjectively valuable than the first unit of the seemingly lesser. Who would consider it folly to trade one’s hundredth loaf of bread for a first diamond? Utility is marginal.

Q:
Why do we have money?
A: Facilitate trade, keep quantitative accounts, make change and store value.

Q:
From where does money come?
A:
It arises from commodities exchanged more and more as a middle or medium of exchange.

Q: Can government improve on money?
A: No, it is strictly a market function.

Q: What is the result of government intervention anywhere in the market?
A:
Government is force, however legitimized and accepted; all force prevents subjective value satisfaction, that is, whatever human actors voluntarily give up and accept is, by their personal subjective (and unknowable to others) understanding, the best informed outcome to them. Any violence that deters their exchange is counter-productive to all the exchanges and to those whose exchanges depend on theirs – that is, violent intervention is a universal disutility in the market.

Mises thus concludes that all coercion – and that includes government action – is not just anti-market but inhumane. Not bad for value free assumptions!  Röpke (author of Humane Economy), Hayek, and even Mises felt that once private force or that of another state entered the marketplace, government counter-force was justified for rectification. Furthermore, none could conceive of any other way to deal with humane protection.

Link: http://agorism.info/docs/LastWholeIntroductiontoAgorism.pdf