3 ms·
As I understand it, free markets determine preferences based on price. However, the price someone can buy something for includes both their desire to pay and t
by harimau777 7y ago
As I understand it, free markets determine preferences based on price. However, the price someone can buy something for includes both their desire to pay and their ability to pay. Therefore, I'm not sure that price is always a good metric for allocating resources.
Do resource zero-sum, free markets still reliably experience growth from the perspective of someone who doesn't view price as a good measurement of value?
If so that would potentially be useful because it could allow more progressive leaning and more libertarian leaning people to find some common ground.
- dnautics 7y agoIf you pay for something it means that your value for the money is less than the value of the satisfaction you believe you will get out of it. Money does not magically create an equivalence class of value across all items of the same price.