Concrete example of objective value?
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Writing a text exactly about that! Coming soon!
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Replying to @festina_lente_2 @Bullitoss and
It imagine you are choosing between two types of gasoline to fuel your car. There’s an objective measure of use-value (octanes per volume, or something like that). You can objectively say that one is X better than the other. But you should talk to a chemical engineer.
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Replying to @festina_lente_2 @Bullitoss and
The value of the gasoline is still subjective, and depends on the subjective value you place on the car. What if I dont value my car? What if my goal is to blow up my engine? Subjectively I would value a different grade of gasoline than someone who values their car more.
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Replying to @Bitcoinomics101 @Bullitoss and
Yes, my point is that a very narrow decision can be assessed in an objective way like this. But, as I said later, most times we have to deal with broader issues and subjectivity takes over. But there are some objective components in the decision nonetheless.
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Replying to @festina_lente_2 @Bullitoss and
I can't think of an example of objective value. Even air and water is subjectively valued. If I dont want to live, I value neither.
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Replying to @Bitcoinomics101 @Bullitoss and
To me it's pretty clear that there are objective components people take into account to form their subjective value judgments.
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Replying to @festina_lente_2 @Bullitoss and
Oh I agree. There are scientific truths and realities in this world, that we use to make our decisions. But value is different. Can you tell me one example of objective values, where every person would not only value it, but value it equally, as to be objective.
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Replying to @Bitcoinomics101 @festina_lente_2 and
Nobody said anything about "objective values", we are saying objective facts are often important or crucial inputs into subjective valuation. And why would you think that the objective would have to be incorporated equally by all to be important? Ridiculous.
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Replying to @NickSzabo4 @festina_lente_2 and
Basic Bitcoinomics Retweeted The Bitcoin Observer
Actually somebody did. https://twitter.com/festina_lente_2/status/1172573608448651264?s=19 … ob·jec·tive (əb-jĕk′tĭv) adj. 1. a. Existing independent of or external to the mind; actual or real: objective reality. b. Based on observable phenomena; empirical: objective facts.
Basic Bitcoinomics added,
The Bitcoin Observer @festina_lente_2Replying to @NickSzabo4 @TokenHashYes! A lot of people use AE to justify that all value is subjective. But value has both an objective and a subjective part. The thing is that economics only deals with the subjective part. The exception to that is money, and that's partly why monetary economics is so hard.1 reply 0 retweets 0 likes
He said it has an objective *part*. The way I'd put it is that subjective value has objective *inputs*, as well as subjective ones, and that's the way he seemed to be thinking about it.
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Replying to @NickSzabo4 @Bitcoinomics101 and
The think at this point we’re discussing terminology. But this subjetivism/objectivism is a thorny topic indeed. Up until the 90s Austrian economists were still not 100% in consensus about it. Lachlan has an interesting take (below).pic.twitter.com/AvDVqHT4Bm
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Replying to @festina_lente_2 @Bitcoinomics101 and
It's not that thorny if one retains common sense instead of just hallucinating about the subjective arbitrariness of the effects of sandpaper.
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