25 Aug
2023
25 Aug
'23
8:47 a.m.
Paul,
this is getting OT...but "value" is what something sells for, or the future
value it will be agreed to sell for. Otherwise it's subjective "value" to
the individual meets reality eventually.
On Fri, Aug 25, 2023 at 9:43 AM Paul Koning via cctalk <
cctalk(a)classiccmp.org> wrote:
supply
On Aug 25, 2023, at 9:39 AM, Bill Degnan via
cctalk <
cctalk(a)classiccmp.org> wrote:
On Fri, Aug 25, 2023 at 9:27 AM Paul Koning via cctalk <
cctalk(a)classiccmp.org> wrote:
>
>
>> On Aug 24, 2023, at 9:29 PM, Sellam Abraham via cctalk <
> cctalk(a)classiccmp.org> wrote:
>>
>> ...
>> It's obvious that the Apple 1 has the value it does not so much for its
>> technology but for what it represents, and that's all that matters.
>
> This reminds me of the observation that economics is a branch of
> psychology: the value of stuff is subjective and personal. (It has to
be,
> because in a trade each person exchanges an
item for a different item
> valued more highly *by that person*.) So arguing about it doesn't get
you
very far.
paul
Paul,
Just to add my thoughts, not to argue....to me economics is based on
and demand. It's not as a science
"subjective". Economists can only in
hindsight quantify the impact of subjective factors on supply and demand
after they actually have occurred. From that, one tries to predict the
future taking past subjective impact to determine future economic
outcomes, momemtum, etc.
Yes, but I wasn't talking about that aspect, but about the concept of
"value". Communist pseudo-economics notwithstanding, value is in the eye
of the beholder. As I said, it must be: if I sell you my computer for
$100, and you buy it for that, it means I value $100 more than the
computer, and you value the computer more than $100.
paul