Re: Value v/s Price

[Yazad Jal <yazad@ccsindia.org>]

---------------------------------------------------------------------
Please help make the Manifesto better, or accept it, and propagate it!
---------------------------------------------------------------------


Padmanabha Rao wrote:

> On Tue, 1 May 2001, Yazad Jal wrote:
>  the value of a product can only be determined when that product is
>  exchanged in a voluntary transaction at a given point in time. it has
>  nothing to do with the labour involved, scarcity, usefulness, etc.
>
> Nothing to do with usefulness ?! Careful Mr Jal!

water is infinately more useful compared to say, diamonds. but diamonds are
more valueable!



>  PS: in other spheres of life like morality, there are objective values
>  or principles. e.g. honesty is an objective value.
>
> Honesty is not an objective value; truth itself isn't in the first place.
> Morality is also given by transaction. The lion considers it proper
> ("moral"?) to pounce on the deer and devour it, just as I do with tomatoes
> and cucumbers.

truth may differ according to perspective, but as long as i am not knowingly
deceiving someone, i am honest. so honesty is objective. there are such things
as "honest errors."

i cannot compare "morality" between species. let's stick to just human beings
here!

yazad


--------------------------------------------------------------------------
This is the National Debate on System Reform.       debate@indiapolicy.org
Rules, Procedures, Archives:            ../debate/
-------------------------------------------------------------------------