Think Freely Media presents Common Sense with Paul Jacob

Carl Menger

Carl Menger

The propensity of men to trade must accordingly have some other reason than enjoyment of trading as such. If trading were a pleasure in itself, hence an end in itself, and not frequently a laborious activity associated with danger and economic sacrifice, there would be no reason why men . . . should not trade back and forth an unlimited number of times. But everywhere in practical life, we can observe that economizing men carefully consider every exchange in advance, and that a limit is finally reached beyond which two individuals will not continue to trade at any given time.

Carl Menger, Principles of Economics (1871; English translation, 1950), Spring 1977, chapter IV, “The Theory of Exchange.”

By: Redactor

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