The Intrinsic Value Theory of Pricing

The idea that prices reflect the inherent value of something is incredibly tenacious. It’s reflected in attempts to determine the relative values of different jobs that have few if any similarities and it’s being played out right now in the complaints about how the members of the U. S. women’s soccer team are paid. Shouldn’t water, necessary for life, be more valuable than diamonds which aren’t? The idea doesn’t hold water.

6 comments… add one
  • James P Kirby Link

    Prices of a product also do not reflect the value or cost of its ingredients. When Dems are asked what their congressmen have ever done for poverty, race relations, immigration or education, the best they can do is point out how much money they’ve spent on measures taken to carry out their policies.

  • That’s an example of what I mean when I complain about measuring the effectiveness of something based on its inputs rather than on its outputs.

  • steve Link

    Poverty he asks?

    Education? Just a coincidence that our top tier schools are in the blue states where education is supported? There are some decent second tier schools in specific programs, like Purdue or Georgia Tech in engineering, but the schools that make the difference in research and let us lead the world in innovation are largely in blue states.

    Immigration? The Dems have worked across the aisle to pass the bills that built the existing fences. They also worked across the aisle to pass more bills to fund more border patrol and more tech for monitoring ports of entry, but those have been vetoed by the GOP.

    Race relations- They dont accuse all Mexicans of being rapists. Does that count? Also, IIRC, wasn’t it 1964 and LBJ POTUS when the Civil Rights Act passed?


  • James P Kirby Link

    There are also some very good schools in Michigan, Indiana, Wisconsin and, of course, Texas. In any case, tearing down Trump is no way to elevate the sorry history of Democrats, much less of their Socialists.

  • Guarneri Link

    There is no need to augment Dave’s observation.

    Steve – seriously? Just two off the cuff, from your profession. If I had a brain tumor I’d head directly to Duke. And if I wanted to be a nurse how do I pass on Villanova?

    You are trying too hard. Barry Kirchner got you rattled?

  • steve Link

    “Michigan, Indiana, Wisconsin and, of course, Texas”

    U of Michigan is an excellent school and I have been very happy with the ICU docs I have hired form there (can’t think of any program in Texas I would want to hire from) but I am talking about the kind of cutting edge work that lets us lead the world, not just good learning institutions.

    ” I’d head directly to Duke.”

    Not me. I have several Duke grads, including a former chief resident. All very good. Duke is good at almost everything, but if had to pick a place for neurosurgery I’d probably go with UCSF, Pitt or Hopkins. Duke would do a great job, and the difference in care at the top is minimal.

    Villanova? Its a good school, but not even my top choice among local schools.

    Who is Barry Kirchner?


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