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It really depends what you mean by “optimal cost” and “better value”. For example, if you want something that’s handcrafted rather than made in a factory on the
by bthrn 3y ago
It really depends what you mean by “optimal cost” and “better value”. For example, if you want something that’s handcrafted rather than made in a factory on the other side of the world, you have to pay for the skills and labor that go into that. Depending on what it is, it might not last longer - but could be a better value in other respects than simply cost. Not everything has to be about making widgets for the lowest amount of money possible.
- ericpauley 3y agoOf course. If you change the requirements the decision space shifts too. With respect to the boots theorem optimal cost is specifically focused on long-term concrete utility per dollar. Fwiw I'd (very loosely) classify the points you're bringing under "prestige".
- bthrn 3y ago> Fwiw I'd (very loosely) classify the points you're bringing under "prestige". If I'd like my clothes made and sourced ethically, or if I want to support a local business that makes leather goods rather than buying mass-produced ones from somewhere else -- I wouldn't say those scenarios are motivated by prestige, but by valuing people and the work they do. It's a bit unfortunate that some things like that are considered a luxury these days.
- lobocinza 3y ago> It's a bit unfortunate that some things like that are considered a luxury these days. Those always were a luxury. Before mass production most people just couldn't afford to have things as we do nowadays.