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Monday, June 29, 2009
Townhall.com Staff :: Townhall.com Columnist
Absolute Values and Growing Government
by Townhall.com Staff
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Editors' Note: Every month, Townhall Magazine highlights some of the outstanding blogs written by users in our community. The following is an entry from Andrews and appears in the June issue of Townhall Magazine.

Some of our most damaging mistakes originate from the simple belief that something is an absolute good. The harm of the environmental movement (or at least the harm done by the most extremist groups) is due to the belief that “nature” is an absolute good. Likewise, much of the nanny-state meddling originates in the related mistake: the belief that “health” is an absolute good. Time and again, people have been led into the most bizarre theories whenever they postulate that something is an absolute good.

The truth is quite simple: All values are relative, and all are subject to a cost-benefit analysis. Though many arguments exist against this, and some may even sound plausible, a little bit of thought will show that, despite the seemingly plausible arguments, there really is no such thing as an absolute value.

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Let us start with the most obvious one: Many people will argue “life” is an absolute value, that without life you cannot enjoy any other benefits, and so it is impossible to put a price on your life.

That simply is not true. Continued...

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Wendy
I just read your response that subjective value would mean there is no reason to oppose the supposed stimulus bill, and I can't follow your logic.

The fact that my preference for carrots over potatoes or for red rather than blue does not imply that there is no reason to observe property rights.

My point is simple, valuations are neither rational nor irrational, people want X more than Y or Y more than X based on personal preference which is not subject to rational evaluation. You cannot assess whether my preference for X is "rational" or not.

That has no implication for the argument for property rights. Just because I say liking red more than blue is neither rational nor irrational, why would that make property rights no longer valid?

As I said, I was once a believer in the Rand cult, but I have to say this one escapes me. Why should one's color or taste preference, or even preference in music have to be rational for property rights to exist?

The free market is good because it provides the most satisfaction tot he greatest number. Preferences need not be rational for that to be the case. As I said, von Mises argues from subjective values quite well, there is no need for valuations to be rational for his arguments to hold.

Andrews, I See What You Said...
at your blog site. Most of the comments here show that most not realize what you are writing (in particular the Doofus, but I could be biased in regards to him).

It is all a matter of choice, if I read you correctly. We "pick" what we consider the important "economics" in our lives.

But as an engineer, I will continue to deal with technical matters. Economics is not an "absolute". Whereas, in most cases, engineering does deal with absolutes.
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