Things are only valuable because we put a value on them, correct?
If we collectively decide that for example diamonds are worth $10 and lands are worth $50, it could happen? We get to set the price on objects. We the people decide how things are valued. Yes there is a system and economy and all that. But just imagine. In case the world ends, everything will be chaotic, no law enforcements to enforce the law and people will start roguing. In that scenario, nothing will be valuable. Money will be useless, everything else will not be important. The one who gets to claim ownership over something is the strongest and most powerful. It will be like day one of human civilization again. This proves that nothing has a fixed value. Do you agree?
- ChrisLv 48 months agoFavourite answer
Correct. Everything starts off having "no intrinsic value" until there are observers focusing on and prioritizing them as having value.
And at that point, once you start to care about the opinions of people and their values, you start to join together and have similar values, thus ballooning the value of their values. In a larger sense, this gives rise to culture and community.
In a chaos scenario, everything resets to survival mode, so things start to have value just based on how much longer they can keep a person alive, like food and basic protection/shelter from robbery. Also, the time spent with loved ones, which cannot be traded, of course, since it is priceless. But it is valued.
Things have economic value to the extent that it is expected that enough people will continue to care about and be able to trade or practically use that item.
- Josh AlfredLv 58 months ago
Yes. However, if you take a class in economics you will understand that there is a formula for determining the price of any given commodity, just as there is one or more for determining the wage of employees. Overall, companies want to profit as much as possible, and are keen to have their mathematicians come up with the best formulas for rewarding themselves.
- Anonymous8 months ago
Is that you Ben?
- All hatLv 78 months ago
The concept of value requires saying to whom it is valuable. Once you realize that, it settles out sensibly.
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- Shahaf YefetLv 58 months ago
The strongest will always get bested by the cleverest in human society, in which case we will always fall back to a modern construct of civilization as we know it, or close to it. The main problem though, as I agree with you, is in the laws. If the laws we set for ourselves are unjust and enforces have a bias, that's when society crumbles. People aren't evil, but people will always try to use the system for themselves, the question is how fair the system is and how we implement it in a fair way.
- Anonymous8 months ago
An ounce of gold has consistently been valued at a month's pay at minimum wage, with some fluctuations.
- CogitoLv 78 months ago
Most people have figured this out by the age of 10.