Mises Wire
Author:
Stephan Kinsella
Online Publish Date:
I am always annoyed when money is referred to as a “store of value”. Value is not a substance that can be stored; it is demonstrated in action. As Mises writes , “Value is the importance that acting man attaches to ultimate ends. ... Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions