Is “gold is expensive” a property of gold, or of the market? If the latter, is “gold is expensive” misleading because it sounds like the former?
That is actually a popular way to be confused about economics: thinking “gold is expensive” is a property of gold.
Is “gold is expensive” a property of gold, or of the market? If the latter, is “gold is expensive” misleading because it sounds like the former?
That is actually a popular way to be confused about economics: thinking “gold is expensive” is a property of gold.