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Why do we keep measuring the value of things with something that constantly loses value over time? (lemmy.world)
submitted 1 year ago by to c/asklemmy@lemmy.world
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[–] [S] 2 points 1 year ago (1 child)

Good perspective. I like the concept of marginal utility and scarcity.

I need to hammer a nail, I get one hammer, I hammer the nail successfully. The hammer was very valuable to me.

I get another hammer, it's not nearly as valuable as the first hammer unless my first hammer breaks.

I give the hammer to someone else who needs to hammer a nail, they hammer the nail successfully. The hammer was very valuable to them.

https://en.wikipedia.org/wiki/Marginal_utility

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  • [–] 2 points 1 year ago

    I didn't know it had a name but marginal utility sounds like the concept behind the early form of eBay, before it became a corporation. You can still find people giving stuff away on there but that sort of exchange has now moved to places like Freegle, Freecycle and Facebook Marketplace, to a lesser extent. What people value has always been a mystery to me, I would be horrible in business. Most of my decisions are pretty much utilitarian, aside from food and drugs. I am happy in a junk yard, salvaging materials and components, that stuff feels under utilised and valuable to me.

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