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Source link: http://archive.mises.org/16837/im-an-acting-man-not-an-aggregate/

I’m an acting man, not an aggregate

May 7, 2011 by

Aggregates mean nothing to me, an acting man — an individual.

Regardless of what the politicized aggregates say, my market basket tells my story — a story of inflation.

In the past month: gas at my favored station is up 12%, with my desired in-store candy bar up 13%; milk at the convenient corner drugmart is up 16%; and my self-proclaimed fiscally conservative neighbors voted to raise my property taxes 20%.

That’s my market basket.

And I do not need to look at the official numbers to know that I must rearrange my future purchases to align with my evolving reality.

According to Mises, “A judicious housewife knows much more about price changes as far as they affect her own household than the statistical averages can tell.”

That’s the truth. And it is as true for us men as well.

{ 4 comments }

Freedom Fighter May 8, 2011 at 7:42 am

I have cut all unnecessary expenses, I don’t use my car, I don’t buy candy bars.

Bruce Koerber May 8, 2011 at 9:50 am

Empirical Economics Is Stagnant, Immoral and Approaching Death!

The birdbrain empiricists think that the answer to the objection to aggregates is to disaggregate. Mainstream economics can only achieve aggregation or disaggregation by removing the essence of the human being out of economics. Of course ethics, then, has no relevance, nor does justice!

Classical liberalism, Austrian economics, and the divine economy theory restore the human essence into the science of economics and at its cutting edge it also restores the inseparability of economics, ethics and justice!

Steve Hogan May 8, 2011 at 7:59 pm

This is the primary reason for my attraction to Austrian economics: it treats human beings as individuals, not as aggregates or mathematical variables to be plugged in to an equation. It seems so intuitive. People have ends and means, and they transact with one another to their mutual benefit. Trade flourishes, peace is maintained, and standards of living are bettered. What’s not to like?

Mississippi Guesser May 8, 2011 at 11:19 pm

Aggregates do not define me!

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