Re:A Personal Statement from Iain Banks
by scarmig on Wednesday April 03, 2013 @07:04PM
(#5489892)
Though it shouldn't need pointing out, it does:
Supply and demand do not determine value. Supply and demand do determine price. The equating of price and value is a lazy attempt to find an objective interpersonal measure of value by saying "what is" is equivalent to "what should be," since determining "what is" is typically easier than forming a consensus on "what should be."
Supply and demand do not determine value. Supply and demand do determine price. The equating of price and value is a lazy attempt to find an objective interpersonal measure of value by saying "what is" is equivalent to "what should be," since determining "what is" is typically easier than forming a consensus on "what should be."