TAILIEUCHUNG - Human action a treatise on economics phần 5

Những thăng trầm của môi trường của mình, và sự khan hiếm của các yếu tố bên ngoài mà phúc lợi của mình phụ thuộc vào. Nó là vô ích để chỉ sự không hoàn hảo và điểm yếu của đời sống con người nếu một trong nhằm mục đích miêu tả một cái gì đó hoàn toàn hoàn hảo. Ý tưởng của sự hoàn hảo tuyệt đối | 346 HUMAN ACTION The main question is the determination of the money equivalents of the items which are to enter into the calculation. It is a mistake to assume as many economists do that these equivalents are given magnitudes uniquely determined by the state of economic conditions. They are speculative anticipations of uncertain future conditions and as such depend on the entrepreneur s understanding of the future state of the market. The term fixed costs is also in this regard somewhat misleading. Every action aims at the best possible supplying of future needs. To achieve these ends it must make the best possible use of the available factors of production. However the historical process which brought about the present state of factors available is beside the point. What counts and influences the decisions concerning future action is solely the outcome of this historical process the quantity and the quality of the factors available today. These factors are appraised only with regard to their ability to render productive services for the removal of future uneasiness. The amount of money spent in the past for their production and acquisition is immaterial. It has already been pointed out that an entrepreneur who by the time he has to make a new decision has expended money for the realization of a definite project is in a different position from that of a man who starts afresh. The former owns a complex of inconvertible factors of production which he can employ for certain purposes. His decisions concerning further action will be influenced by this fact. But he appraises this complex not according to what he expended in the past for its acquisition. He appraises it exclusively from the point of view of its usefulness for future action. The fact that he has spent more or less for its acquisition is insignificant. This fact is only a factor in determining the amount of the entrepreneur s past losses or profits and the present state of his fortune. It is an element in

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