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But there are objective measures of value, such as the price you paid in a transaction.
by garmaine 7y ago
But there are objective measures of value, such as the price you paid in a transaction.
- amatic 7y agoThe price you paid says you value the thing you got more than the money you gave in exchange. At the same time, the person who received the money values it more than the thing he sold. That is what makes economic transactions positive sum games, according to some theories.
- philwelch 7y agoI would call market prices more “consensus” than “objective”, since they’re based on the aggregate subjective valuations of those involved in the market.
- garmaine 7y agoYou can objectively point to them. The prices are visible for all to see.