4 ms·
Please cite a source for your claim. Economists agree they utility is the measure of value to society. https://www.investopedia.com/terms/u/utility.asp https:
by sukilot 6y ago
Please cite a source for your claim.
Economists agree they utility is the measure of value to society.
https://www.investopedia.com/terms/u/utility.asp https://www.investopedia.com/terms/u/utility.asp
Money is merely a proxy for utility, a token of exchange.
- fsckboy 6y agoI will cite your statement "money is merely a proxy for utility" because that makes utility a suitable proxy for money, and you agree to that. To expand on my original point and a statement I made elsewhere, to make it more palatable to people who want to object to it: I'm just talking about definition here; I'm not changing your ideas about greed, or distribution of wealth or sustainable wages. Adopt the definiton I gave, and then say what you want about those other things, and you'll make more sense, or understand why you're failing by your own standards.
- baddox 6y agoAnd note that market price is an indicator not of how much people value something, but rather their willingness to pay, which is obviously limited by each person’s ability to pay.