The New Ideas Blog

Which is worth more; an orange or an apple? At the moment an apple costs more at the grocery store, but the question isn’t really identical to “which costs more?” After all, one or the other has more value to you even if they both were free. Or to use another example, if the price of a pen was higher than that of a computer, you would still probably consider the computer to be “worth” more than the pen - unless you were selling them. Clearly what we think of as value is not identical with “price,” nor is it always closely related.

So what is a thing worth? How do we (more…)