1.1.3. The Primacy of Non-Money.

D.1. The Primacy of Non-Money: Unlike business studies, Economics is interested in more abstract ideas of valuations, and monetary denomination of prices are merely consequent of it.

E.1. By proposing that now buying and selling are but aspects of behaviour, and not its categories as ordinarily believed, it is implied that prices - the costs necessary to acquire a quantity of something - too are not necessarily monetary, cannot always be written in currency units. This unique aspect of definition of Economics, in fact, works only to broaden the scope of Economics, and as such requires further investigation.

Thus, it follows from the treatment of buying and selling as aspects of behaviour, that we are not concerned with money only. And in this sense the monetary denomination of prices are only a consequent of the more subjective, non-monetary, valuations preceding them. And again, although in basic texts of Economic we introduce monetary prices, we do so only to simplify the learning, and can easily give up on the prices in monetary units, and employ the more abstract insights being taught in these models, or theories to our practical issues not dealing with monetary prices. Thus, we may infer that in Economics, unlike in studies of Business, money does not have a primacy, but more abstract ideas of costs and benefits are considered, and cases of monetary denomination are merely a subset of broader set of issues we deal with.

Remark: 1.1.2 to 1.1.6 are all observations based on study of full text of essay, and are implicit in essay Robbins, L. (2007). An essay on the nature and significance of economic science. They deserve to be separately mentioned for clarity.

Reference: Robbins, L. (2007). An essay on the nature and significance of economic science.

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