ValueAndPrice

The critic says "only the philistine tries to reduce all value to money. To try to work out the price of a life or a great painting is crass."

But the economist responds : "how can you claim to know the value of anything unless you can compare it with the value of something else? This good vs. that beauty vs. t'other happiness? You can't compare? What does it mean to say you know their value? An empty boast."

See also SettingPrices

CategoryEconomics, CategoryPhilosophy, CategoryEthics