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>I'm against quantifying it at all because, while useful, price is a very limited metric. There are numerous cases where you can increase the transaction sum an
by mbell 15y ago
>I'm against quantifying it at all because, while useful, price is a very limited metric. There are numerous cases where you can increase the transaction sum and achieve 0 value increase, eg. monopolistic pricing in a market with inelastic demand or bad investing (destroying capital) or externalities, etc.
I'm pretty confused as to how you first define that you don't want to quantify it but then one sentence later make a quantitative declaration ("achieve 0 value increase..."). How does this work?
- moonchrome 15y agoZero means nothing, absence of extra value, that can be established on qualitative grounds - but true it doesn't have to be strictly 0 it just means there is no proportional value added.