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So how exactly does one come up with a "reasonable" price for anything? Why is $10 for a chicken any more "reasonable" than $10,000? Things have value because

So how exactly does one come up with a "reasonable" price for anything? Why is $10 for a chicken any more "reasonable" than $10,000? Things have value because we (collectively) believe they do. Currency is a numbering system. In practical terms, what matters is how easy are the numbers to use, and what's the relative value of one thing versus another. And if you think we can rationally decide how many chickens a hip placement is worth, you're still nuts.

junto 13y ago
Surely price is comparative? If you only earn $10 a week then $10 for a chicken is expensive, but if you earn $1000 a week then that chicken is pretty cheap.
- VikingCoder 13y ago
  Why does one guy earn $10 a week, and the other guy earns $1000 a week? No, seriously. Nothing is stable in an economy. Everything is dynamic. Everything is relative. Everything is a shared delusion. Luckily, most people buy into it, most of the time. When that fails, you get massive inflation.