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Saying you can't measure value in dollars is kind of like saying you can't measure a distance with inches. Inches are also a kind of abstract concoction.
by jp555 12y ago
Saying you can't measure value in dollars is kind of like saying you can't measure a distance with inches. Inches are also a kind of abstract concoction.
- Panoramix 12y agoNot at all. Inches have a direct relationship to a physical quantity.
- lokki 12y agoInches are a defined construct, not an absolute. They are convenient chunks so we dumb humans and communicate with some level of accuracy. Dollars are exactly the same - assigning value lets us communicate and relate otherwise abstract concepts in a meaningful way. While we can't eat gold, we can imagine how much food gold can buy, with all the caveats about exchanges and locations in place. The important bit to take away is providing a framework for common understanding.