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It's the main definition of worth that is used when discussing the value of commodities in economics on the internet.
by wizzwizz4 5y ago
It's the main definition of worth that is used when discussing the value of commodities in economics on the internet.
- wpietri 5y agoI certainly agree that worth and current market price are correlated. But I disagree that they're definitionally the same. Indeed, pretending they're equivalent is a great way to lose a lot of money. I used to work for financial traders and I got some very fat bonus checks paid for by people who confused the two during high-volatility events while our traders stayed more flexible.
- wizzwizz4 5y agoI also agree that it's a bad definition. Perhaps “worth is what people will pay for something for the sake of having it, rather than out of expectation that they can re-sell it for more”?