Saving "the Market” out of Cambridge: “Prices”
Suppose Mom ready for the weekly grocery shopping. Setting off, she has the “Irish potato” among other products in mind. Question: No. 1. Would she purchase potatoes in a “fixed quantity,” no matter what? ② How close a substitute is “Irish meat” to the potato? ③ How many “substitutes” are there in the market, for that matter? ④ How often does she measure the utility value of potatoes in the quantity of “meat” or any other product? ⑤ Does she have loyalty to any of the sellers in town? The respective answer in order: ① No, not quite. It depends; ② Very remote if ever; ③ Definitely indefinite; ④ Never, if ever; ⑤ Usually not, but we don’t know for sure about her whim. No matter which, “unsure” is everywhere identical to a “no” if in a theoretical proposition. Now we ch...