ToeNailClippings@lemmy.world to Lemmy Shitpost@lemmy.world · 11 months agoGonna be a great day!lemmy.worldimagemessage-square183fedilinkarrow-up1652arrow-down155
arrow-up1597arrow-down1imageGonna be a great day!lemmy.worldToeNailClippings@lemmy.world to Lemmy Shitpost@lemmy.world · 11 months agomessage-square183fedilink
minus-squareweirdwallace75@lemmy.worldlinkfedilinkEnglisharrow-up5·11 months ago So basically, the more people who believe in the value of some thing, the more that thing holds actual value? Yes. That’s how value works. https://en.wikipedia.org/wiki/Paradox_of_value The paradox of value (also known as the diamond–water paradox) is the contradiction that, although water is on the whole more useful, in terms of survival, than diamonds, diamonds command a higher price in the market.
minus-squareAnn Archy@lemmy.worldlinkfedilinkarrow-up1·11 months ago water is on the whole more useful, in terms of survival, than diamonds, diamonds command a higher price in the market Water doesn’t command a higher price in the market than diamonds so far!
Yes. That’s how value works.
https://en.wikipedia.org/wiki/Paradox_of_value
Water doesn’t command a higher price in the market than diamonds so far!