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Value is subjective, which is why we can have concepts such as "mutually beneficial exchange". The entire concept of barter and trade, which has been the founda
by cheald 12y ago
Value is subjective, which is why we can have concepts such as "mutually beneficial exchange". The entire concept of barter and trade, which has been the foundation of our economies since time immemorial, is built on that fact. The world is not zero-sum in regards to value; price is simply what we call an agreement where both parties are willing to give up something that they perceive to be less valuable than the thing they are receiving in exchange.