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I don't know what you're on about. It's been over a century, since economists adopted a subjective theory of value, according to which value is that—subjective
by lottin 5y ago
I don't know what you're on about. It's been over a century, since economists adopted a subjective theory of value, according to which value is that—subjective. As such, we don't try to explain it, because it doesn't matter. You may think something is valuable because it's useful, or because some other reason. It makes no difference, and we don't care. All we care about is how much you are willing to pay for it. This tells us everything we need to know.
- sudosysgen 5y agoThat's pretty arguable. There are many things that I find useful that I wouldn't pay for.