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>It's good because people think it's good. They think it is good because of cultural/narrative reasons. It's not good for any underlying or objective reason. I
by jccalhoun 9y ago
>It's good because people think it's good. They think it is good because of cultural/narrative reasons. It's not good for any underlying or objective reason.
I just want to point out that this is true of basically all food, drink, and art. https://en.wikipedia.org/wiki/Distinction_(book) https://en.wikipedia.org/wiki/Distinction_(book)
- dalbasal 9y agoAt some level, value is a matter of taste. I agree. Is this $900 phone better than this $200 phone, or two $200 phones? IDK, but at least they are different. The question is not (IMO) about absolute rationality, but having enough rationality to drive a market. Wine & mattress markets don't have it. You can't offer a near identical wine or mattress cheaper than market price and expect it to disrupt the market, forcing competitive price-cutting.