From Human Action — surrounding passage

Things are valued exclusively from the point of view of the services they can render for the satisfaction of future wants. The actual sacrifices made and the time absorbed in their production are beside the point. These things belong to the dead past. It is necessary to realize that all economic categories are related to human action and have nothing at all to do directly with the physical properties of things.

“Economics is not about goods and services; it is about human choice and action.”

The praxeological concept of time is not the concept of physics or biology. It refers to the sooner or the later as operative in the actors' judgments of value. The distinction between capital goods and consumers' goods is not a rigid distinction based on the physical and physiological properties of the goods concerned. It depends on the position of the actors and the choices they have to make. The same goods can be looked upon as capital goods and as consumers' goods.