I think "Austrian understanding" is misrepresented here. It makes sense for non-fungible goods. However, if we talk about relatively well dispersed, uniform and scarce resources, some sort of "stock" and market price as information about "flow" should be enough to make judgement if fungible good may be monetized eventually.

I don't think that it is right to talk about "stock2flow model" but I lean to understanding of "stock2flow" as a _framework_ with sort of naive formulas. And Austrians were always against any math.

notgeld

>In the Austrian understanding of scarcity and value, scarce goods always fetch some price. However, what specific price someone is willing to pay for some quantity of a good has no necessary relationship with a physical measure of it such as the stock-to-flow ratio. Therefore, the “hypothesis” of the S2F model is fundamentally misconceived, and no further exercise in data gathering or reparameterization will salvage its theoretical coherence.