2 ms·
It's not like that at all. If you want to argue that one can't define value then I am out. If you admit "value" has well understood meaning then utility functio
by bluecalm 2y ago
It's not like that at all.
If you want to argue that one can't define value then I am out.
If you admit "value" has well understood meaning then utility function of wealth is just how much value one can derive from it. We usually measure wealth in money for convenience. I really don't know why you are so against it. There might be a lot of nonsense associate with it but the concept itself is pretty simple and useful.