Quote by: Ludwig von Mises

The valuations which result in determination of definite prices are different. Each party attaches a higher value to the good he receives than to that he gives away. The exchange ratio, the price, is not the product of equality of valuation, but on the contrary, the product of a discrepancy in valuation.


Share this:  

Author Bio


  • NameLudwig von Mises
  • Descriptionaustrian economist
  • BornSeptember 29, 1881
  • DiedOctober 10, 1973
  • CountryUnited States Of America; Austria
  • ProfessionEconomist; Philosopher