Jamal Awil

← on individuality and social forms_…

Voluntary exchange creates value exceeding what either party possessed. [definitional]

The meaning of exchange, moreover, is that the sum of values is greater afterward than it was before, and this implies that each party gives the other more than he had himself possessed.

DEFINE: Defines exchange's essential meaning as value creation, not merely transfer of existing goods.

Georg Simmel, on individuality and social…, loc. 219