Quote:
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Originally Posted by Beestie
What is the price (economic value) of a commodity for which there is an infinite supply?
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Read first rule of economics: Something is worth whatever someone is willing to pay for it. People are stupid. People buy identities, not products. The tangible object is worthless (with the exception of houses etc.)
Quote:
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Originally Posted by glatt
I determine the value. I won't work for a wage unless I approve of it. I won't buy a product unless I like the price.
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That's all very well but your choice is
limited to what you are
offered. So, who determines the value?