Quote Originally Posted by Renton View Post
I think you may be missing my point. The value isn't an unknown constant that someone or some committee can ascertain with adequate knowledge. It is a variable in constant flux that can only be known for a given individual based on that individual's preferences, needs, and/or priorities.
So any time a person purchases something, that's that something's value.

And if everyone were allowed to freely purchase everything, everything would be held at its value.

And so a purely free market would allocate all resources best, because all actors would be bidding on all resources based on their evaluations.

This smacks of circular thinking to me. Value isn't a thing at all, it's just the what you spackle into the cracks.

I know for a fact I overpaid today for shitty fig newton cookies. Because I remembered them being a thing and I remembered me liking them and dammit they weren't worth the 4.50.

Will that swear me off fig newtons in the future? Sure, for a spell, until I forget and in the mean time - the dream that was vanilla waffers.

Basically, if ever anyone 'misevaluated' anything, their evaluation would still be the proper one because they made it, because it's not possible to 'misevaluate' a product you choose to buy.