I’m reading Man, Economy, and State and I’m at the determination of the pure rate of interest (Ch 6 Section 3). I’m having trouble wrapping my mind around how Rothbard has set up the value scales for present to future goods (pg 380 in the 2nd edition of the Scholar’s edition, the one with chess pieces on the cover). I understand that “1st unit of 10oz” means that it is the first unit of 10 oz that will be given up and that “(12 oz. future)” means that the future 12 oz are not currently in “John Smith’s” possesion. What I’m having trouble with is that (13 oz future) is higher than “2nd unit of 10oz” to be given up. All I need clarification on is whether or not the future good to be obtained is per unit and not a gross number.
In other words, if John Smith values 13 oz over 2 units of 10 oz in the present, it doesn’t mean that he values 13 oz in the future over 20 oz in the present does it? Is he saying that in order for 2 units of 10 oz to be given up then “John Smith” must get 13 oz future for both units (making it be 20oz present for 26oz future)?
I tried to word that as best as I could.