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In name perhaps, but the concept of an economic good having potentially different values at different times is universal. An economic system that tries to prete
by gibybo 8y ago
In name perhaps, but the concept of an economic good having potentially different values at different times is universal. An economic system that tries to pretend it doesn't exist may work in the sense that a mathematical system without a 0 works. We can still analyze the system using the concept and develop insights using it as a tool, even if they don't recognize it themselves.