Estimating The Value Of

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price is the objective outcome of two factors: objective
supply and objective demand. On the free market, subjective doesn’t
count. That’s because it can’t be counted.

much is worth to you? You can’t tally up value
as if value were objective. There is no objective scale of value.
But you can estimate the position of any item on your personal
value scale. Where does belong on your scale of

the value of to that universal favorite, money.
What is the monetary value of your time? How much money is your
time worth per hour?

many hours per month do you invest in visiting
Ten? Twenty? What are you paying per month in forfeited income
for the information posted on Multiply this figure
by 12. That’s a year’s worth of on your expenses

you willing to donate 10% of this amount to If
not, why not? (Because you don’t have to, right?)

are no free lunches in this life, but there are surely subsidized
lunches, paid for by The Other Guy Over There. But what if The
Other Guy Over There figures out that he can get it for free because
of the generosity of The Other Guy-Way, Way Over There?

there’s a problem with The Other Guy-Way, Way Over There. He wants
to become a free rider, too. The cheapskate!

if the number of free riders bankrupts the airline?

there is no digit fairy.

at the value of from another angle. How much money
would someone have to offer you to get you stop reading forever
the material posted on Would you quit coming
to the site for, say, $10/month? Think about all the time you
would save each month. All that and $10, too! That’s the objective
price of on the demand side of your personal equation.

course, there is some value to the information on
But how much? Figure the cost of replacement. What would it cost
you to supply this information to yourself, including all the
dry holes of useless information that you must filter out? How
much time would you have to invest to find the same number of
interesting articles that you read each month on
That’s what is worth to you on the supply side
of your equation.

If shuts down, you will have to do without the services
of Lew Rockwell, his writers, and his link-forwarders, who keep
the flow of information rolling along. What if Ol’ Man Rockwell
runs dry? What’s your fall-back position? Can your brain survive
on a diet of Matt Drudge?

your monthly replacement cost of Then multiply
this by 12. That’s what it’s worth to you per year.

you willing to donate 10% of this as your minimal fair share?
If not, why not? Get a tax deduction for 2000. Call toll-free
and have your credit card ready.


the line is busy-as it should be in a decent world-FAX this information:
your credit card brand, its number, its expiration date, and the
amount you are donating. Then sign the letter. FAX it to the Center
for Libertarian Studies, at:


can also contribute, appropriately enough, through the website
itself. Click here.

28, 2000

Gary North is the author of an eleven-volume series, An Economic
Commentary on the Bible. The latest volume is Cooperation
and Dominion: An Economic Commentary on Romans. The series can
be downloaded free of charge at

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