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Outer and Inner
objective exchange value of money
a relationship between
relationships
“The words Value and Price were used as synonymous by the early political
economists, and are not always discriminated even by Ricardo. But the most accurate
modern writers, to avoid the wasteful expenditure of two good scientific terms on a
single idea, have employed Price to express the value of a thing in relation to money;
the quantity of money for which it will exchange . . . the value or exchange value of a
thing, [we shall, therefore, understand] its general power of purchasing; the
command which its possession gives over purchaseable commodities in general.”
[Carl Menger 1871]
the distinction does not, as would appear from the terms, refer to
different kinds of value but to the different forces which affect prices
Menger, usually refer to “the question of the nature and extent of the influence
upon the exchange ratios between money and commodities exerted by variations
in those determinants of prices that lie on the monetary side” as the problem of
the innere [inner] objektive Tauschwert of money, and to “those concerned with
variations in the objective exchange value of money throughout time and space in
general” as the problem of its äussere [outer] objektive Tauschwert.
“those concerned with
variations in the
objective exchange value
of money throughout
time and space in
general”
“the question of the nature and
extent of the influence upon
the exchange ratios between
money and commodities
exerted by variations in those
determinants of prices that lie
on the monetary side”
Carl Menger, 1871: innere objektive Tauschwert and äussere objektive
Tauschwert of money
It’s all about relationship between relationships
BA
is located in
is qualified by
A is located in B
B is qualified by A
sebuah hubungan sebagai suatu keseluruhan (whole) yang holds (menyatukan, connects)
antara dunia yang merepresentasikan (representing world) dan dunia yang
direpresentasikannya (its represented world)
(First) “we have to obtain
numerical demonstration of the
fact of variations in the objective
exchange value of money”
(Second) “the question must be decided
whether it is possible to make a quantitative
examination of the causes of particular price
movements, with special reference to the
question whether it would be possible to
produce evidence of such variations in the
purchasing power of money as lie on the
monetary side of the ratio”
Ludwig von Mises, 1912: “….there are two parts to the problem of
measuring the objective exchange value of money”
“those concerned with
variations in the
objective exchange value
of money throughout
time and space in
general”
“the question of the nature and
extent of the influence upon
the exchange ratios between
money and commodities
exerted by variations in those
determinants of prices that lie
on the monetary side”
It’s the problem of Objectification and Objectivation—a
dialectic and dialogic happening—both happened at once
objectification
n. The act or process of objectifying or of making objective.
Century Dictionary and Cyclopedia
n. The process or manifestation of objectifying (something).
Wiktionary
n. representing as an object.
n. the act of representing an abstraction as a physical thing
n. a concrete representation of an abstract idea or principle
GNU Webster's 1913
objectivation
n. The conversion of a concept or abstraction into an object.
Wiktionary
n. Converting into an object. GNU Webster's 1913
BA
Since A is located in B and B is qualified by A, then
the problem of measuribility of both is the problem of
HOW TO WRITE and READ both at once (or almost simultaneously)
- a transitive process:
WRITE (objectivate) B in terms of A and
READ (objectify) A in terms of B
READ
(outward,
objectify)
WRITE
(inward,
objectivate)
“those concerned with
variations in the
objective exchange value
of money throughout
time and space in
general”
“the question of the nature and
extent of the influence upon
the exchange ratios between
money and commodities
exerted by variations in those
determinants of prices that lie
on the monetary side”
Carl Menger, 1871: innere objektive Tauschwert and äussere objektive
Tauschwert of money
(Second) READ OUTWARD
(objectify)
(First) WRITE INWARD
(objectivate)
“those concerned with
variations in the
objective exchange value
of money throughout
time and space in
general”
“the question of the nature and
extent of the influence upon
the exchange ratios between
money and commodities
exerted by variations in those
determinants of prices that lie
on the monetary side”
(Secondly) READ OUTWARD
(objectify)  re-present the
concrete representation of an
abstract idea or principle 
“communicate the message”
(Firstly) WRITE INWARD
(objectivate)  convert
an abstraction into an object
 “write a message”
sebuah hubungan sebagai suatu keseluruhan
(whole) yang holds (menyatukan, connects)
antara dunia yang merepresentasikan
(representing world) dan dunia yang
direpresentasikannya (its represented world)
It’s all about “Make up your mind guys!”
---
1. tetapkan pikiranmu
2. katakan itu
Jangan terbalik urutannya, alih-alih
akan terjadi “parsing error ” – “error
pemilahan”

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Outer and inner objective exchange value of money

  • 1. Outer and Inner objective exchange value of money a relationship between relationships “The words Value and Price were used as synonymous by the early political economists, and are not always discriminated even by Ricardo. But the most accurate modern writers, to avoid the wasteful expenditure of two good scientific terms on a single idea, have employed Price to express the value of a thing in relation to money; the quantity of money for which it will exchange . . . the value or exchange value of a thing, [we shall, therefore, understand] its general power of purchasing; the command which its possession gives over purchaseable commodities in general.” [Carl Menger 1871] the distinction does not, as would appear from the terms, refer to different kinds of value but to the different forces which affect prices
  • 2. Menger, usually refer to “the question of the nature and extent of the influence upon the exchange ratios between money and commodities exerted by variations in those determinants of prices that lie on the monetary side” as the problem of the innere [inner] objektive Tauschwert of money, and to “those concerned with variations in the objective exchange value of money throughout time and space in general” as the problem of its äussere [outer] objektive Tauschwert. “those concerned with variations in the objective exchange value of money throughout time and space in general” “the question of the nature and extent of the influence upon the exchange ratios between money and commodities exerted by variations in those determinants of prices that lie on the monetary side” Carl Menger, 1871: innere objektive Tauschwert and äussere objektive Tauschwert of money
  • 3. It’s all about relationship between relationships BA is located in is qualified by A is located in B B is qualified by A sebuah hubungan sebagai suatu keseluruhan (whole) yang holds (menyatukan, connects) antara dunia yang merepresentasikan (representing world) dan dunia yang direpresentasikannya (its represented world)
  • 4. (First) “we have to obtain numerical demonstration of the fact of variations in the objective exchange value of money” (Second) “the question must be decided whether it is possible to make a quantitative examination of the causes of particular price movements, with special reference to the question whether it would be possible to produce evidence of such variations in the purchasing power of money as lie on the monetary side of the ratio” Ludwig von Mises, 1912: “….there are two parts to the problem of measuring the objective exchange value of money” “those concerned with variations in the objective exchange value of money throughout time and space in general” “the question of the nature and extent of the influence upon the exchange ratios between money and commodities exerted by variations in those determinants of prices that lie on the monetary side”
  • 5. It’s the problem of Objectification and Objectivation—a dialectic and dialogic happening—both happened at once objectification n. The act or process of objectifying or of making objective. Century Dictionary and Cyclopedia n. The process or manifestation of objectifying (something). Wiktionary n. representing as an object. n. the act of representing an abstraction as a physical thing n. a concrete representation of an abstract idea or principle GNU Webster's 1913 objectivation n. The conversion of a concept or abstraction into an object. Wiktionary n. Converting into an object. GNU Webster's 1913
  • 6. BA Since A is located in B and B is qualified by A, then the problem of measuribility of both is the problem of HOW TO WRITE and READ both at once (or almost simultaneously) - a transitive process: WRITE (objectivate) B in terms of A and READ (objectify) A in terms of B READ (outward, objectify) WRITE (inward, objectivate)
  • 7. “those concerned with variations in the objective exchange value of money throughout time and space in general” “the question of the nature and extent of the influence upon the exchange ratios between money and commodities exerted by variations in those determinants of prices that lie on the monetary side” Carl Menger, 1871: innere objektive Tauschwert and äussere objektive Tauschwert of money (Second) READ OUTWARD (objectify) (First) WRITE INWARD (objectivate)
  • 8. “those concerned with variations in the objective exchange value of money throughout time and space in general” “the question of the nature and extent of the influence upon the exchange ratios between money and commodities exerted by variations in those determinants of prices that lie on the monetary side” (Secondly) READ OUTWARD (objectify)  re-present the concrete representation of an abstract idea or principle  “communicate the message” (Firstly) WRITE INWARD (objectivate)  convert an abstraction into an object  “write a message” sebuah hubungan sebagai suatu keseluruhan (whole) yang holds (menyatukan, connects) antara dunia yang merepresentasikan (representing world) dan dunia yang direpresentasikannya (its represented world) It’s all about “Make up your mind guys!” --- 1. tetapkan pikiranmu 2. katakan itu Jangan terbalik urutannya, alih-alih akan terjadi “parsing error ” – “error pemilahan”