4 ms·

What is intrinsic value?

• JoeAltmaier 6y ago
  You can look that up. It means something like, the materials or useful value (as a tool etc) gives it a price in the market.
  • Falling3 6y ago
    I'm sure the parent knows the meaning of the word, but was asking as more of a philosophical exercise. But funny enough, your example is still describing extrinsic value. Tools don't have intrinsic value. They're valuable because of a problem they solve. If they stop solving that problem or the problem no longer exists, the same thing happens to their value.
    • JoeAltmaier 6y ago
      You've lost me. I was aware of both those definitions, and used them as I intended, I believe? Oh, its the tool issue. Its reasonable to value a tool for its inherent usefulness - that's intrinsic to the tool. Extrinsic value is just the market value. That one seems clearer. Anyway I imagine the intrinsic value of a piece of art is, the joy it gives in interacting with it. Kind of the entire point of art after all. And notice, nothing in that about "who made it".
      • goto11 6y ago
        But it can give you joy to know who made a painting and the historical context of it.