Time and Economic Value

Time and economic value share a common characteristic ontology. Time is fundamentally extramental and formally and actually mental. This is because time is fundamentally the motion of a physical being. This motion exists only in the indivisible moment. It is in the mind that we connect the dots of motion into a continuous unit by which other motions are measured.

Economic value is similarly fundamentally based on the actual utility of a thing. However, in exchange, as the Philosopher says, the measure of a thing in an exchange is demand. Now demand or need is mental in so far as we judge our own demand or need. The value of a thing is not the utility of a thing simply but, as Aquinas says, its usefulness to men.

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