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Thanks Dr. Gutzman. I’m glad to hear that it at least went an intellectually consistent route.
Thank you Dr. Gutzman. That makes sense. I assume then that Jefferson received the advice and consent of the senate prior to the purchase?
Got it. Thanks!
I understand what you are saying. Maybe I’m not conveying my question very well. What about money being a consumer good in its ability to satisfy and end in a psychic senses? For example, my goal is to have $10,000 in my checking account. How, in the attainment of that goal, is the money not a consumer good because without it, it would not be possible to attain my end?
My apologies if I’m being a bit dense about this. Am I just overthinking an abstract idea?
“Presumably you are saving money to use it at some point in the future. Of course, I have to admit the possibility of saving just to save. Generally though, I don’t think that needs to be given much attention to.”
I’m not trying to be difficult, by I’m still not completely sold. Why can’t the accumulation of money be like a little kid’s blanket? The money in and of itself could be a source of comfort and security. For that matter, a bag of leaves or a straw might serve a similar purpose. I thought what was important was in the mind of the actor, and economics, as being descriptive, made no value judgments regarding Human Action.
So, if in the mind of the economic actor, the end is to have a wad of federal reserve notes that are never intended to be spent, why are they not considered consumer goods?
Also, in a psychic sense, why would an individual in a barter economy who can grasp the idea of a medium of exchange and develops a money that is acceptable to other people, why is the money in that sense not an economic good, since it satisfies the end of the actor (discover/develop money)?
Thank you for your time.
I understand your explanation regarding money and it not being either a consumer good or a producer good, but why cannot the accumulation or savings of a specific amount of money be an end? If I wanted to save $25,000, then why is money not considered a consumer good, since it is necessary to satisfy my end?