Ordinal & Cardinal (Ranking)
from Vacuous Vocation Hosted by Matthew James Geiger
In this episode, Matthew discusses the methodology of Austrian Economics in the Axiom of Action by understanding how individuals ordinary rank their subjective preferences while mainstream economics using cardinal ranking in order to construct indifference curves using utils as the measurement for preferences which is Keynesianism not economics proper.
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This episode is 16 minutes long.
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This episode was published on July 17, 2020.
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