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In Reply to: No. The value of something is exactly what people are willing to pay, not more, not less. Now, we may posted by tinear on June 5, 2014 at 13:02:36:
"but the market sets the value, not individuals."
Individuals set value on objects according to their subjective wants and needs. When an individual exchanges one object for another he demonstrates by his action that he values the object he gets more than the object he gives. The "market" is nothing but the aggregate of actions by individuals.
Tony Lauck
"Diversity is the law of nature; no two entities in this universe are uniform." - P.R. Sarkar
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Follow Ups
- RE: No. The value of something is exactly what people are willing to pay, not more, not less. Now, we may - Tony Lauck 06/6/1410:33:06 06/6/14 (0)
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