What does it mean to say Crusoe creates by Dr. Robert Murphy @Mises

Question 13 / 21: What does it mean to say Crusoe creates goods with his "mind powers"?

Answer:

Obviously we do not mean that Crusoe has magical powers to conjure up coconuts through thought.

What we meant by this section title is that coconuts (or vines, sticks, etc.) are not goods merely because of their intrinsic properties.

In order to become economic goods, someone (Crusoe in this case) has to use his mind to classify them as scarce objects that can help him achieve his objectives.

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Economy Foundations

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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