Like I said to the child comment, I think we are aligned on value, I included subjective and emotional needs on this. I do think this distinction makes sense because the more something has value for you, the less elastic your personal price-demand curve becomes. And certain things we all have a demand-floor. And that's kind of the difference between price and value right? Value is the thing that's stays valuable and desirable even if it's not priced and can't be exchanged
> Incidentally while it's an interesting distinction, I don't agree with your comment on need/value want/price. I value lots of things I don't need. Humans are creatures that value things, things that are valued are valuable.
It sounds like there is a disagreement on definition of "need". Perhaps yours is closer to "will physically die if not present", and the parent poster's is "somewhere on Maslow's hierarchy of needs".
This is a particularly interesting thing to point out in this context - property ownership is a meme itself.
> Things have value because we need them (inelastic part of the supply-demand curve), things have a price because we want them (elastic part of the supply-demand curve).
Incidentally while it's an interesting distinction, I don't agree with your comment on need/value want/price. I value lots of things I don't need. Humans are creatures that value things, things that are valued are valuable.
> Only if you don't understand probabilities and risk management.
Yeah, you're probably right on that. I could maybe try to claim that probabilities and risk management are memes themselves...