Dmitry Chernikov’s Blog

Gold has no “intrinsic value”; there is no such thing as “intrinsic value”; all values are subjective. Both gold and paper possess subjective use value (gold for, e.g., jewelry; unbacked paper money for, e.g., writing on) and subjective exchange value — that is, they impart utility into their holder, because they can be exchanged for [...]

“The inequality of incomes and wealth is an inherent feature of the market economy. Its elimination would entirely destroy the market economy.” (Mises, Human Action, 840) There are four reasons in favor of such inequalities: It is precisely the possibility of earning vast fortunes that makes the capitalistic economy so productive. There is something liberating [...]

When we hear of the various eugenics schemes, their purpose is invariably to “enhance” in some way the human race. John Rawls cannot help but be led by his own arguments into endorsing a global eugenics project with a very different purpose: to make everybody equal. Whether the proper reaction to this is to laugh [...]

Victor’s article is about torture, but I want to zero in on a subsidiary claim that he makes to the effect that if something is illegal, then it is evidence for the fact (or generates a presumption) that it is also immoral. It is unclear what reasons Victor adduces for this conditional. Is it because [...]