by Gary North
A 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.
How much is lewrockwell.com 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 lewrockwell.com belong on your scale of values?
Compare the value of lewrockwell.com to that universal favorite, money. What is the monetary value of your time? How much money is your time worth per hour?
How many hours per month do you invest in visiting lewrockwell.com? Ten? Twenty? What are you paying per month in forfeited income for the information posted on lewrockwell.com? Multiply this figure by 12. That's a year's worth of lewrockwell.com on your expenses scale.
Are you willing to donate 10% of this amount to lewrockwell.com? If not, why not? (Because you don't have to, right?)
There 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?
But there's a problem with The Other Guy-Way, Way Over There. He wants to become a free rider, too. The cheapskate!
What if the number of free riders bankrupts the airline?
Problem: there is no digit fairy.
Look at the value of lewrockwell.com from another angle. How much money would someone have to offer you to get you stop reading forever the material posted on lewrockwell.com? 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 lewrockwell.com on the demand side of your personal equation.
Of course, there is some value to the information on lewrockwell.com. 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 lewrockwell.com? That's what lewrockwell.com is worth to you on the supply side of your equation.
If lewrockwell.com 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?
Estimate your monthly replacement cost of lewrockwell.com. Then multiply this by 12. That's what it's worth to you per year.
Are 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.
If 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:
December 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 www.freebooks.com.