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RE: No, A Resource-Based Economy Doesn't Work

in #money7 years ago

Value is subjective. Prices are what allow us humans to gauge the value of a good relative to the demand within a given space for it. If, for example, I know that a bag of nails is 2 Steem over at Store A, then I can reasonably deduce that this is the average going rate. If, however, I see they're going for 1 Steem over at Store B down on the opposite side of town, I can see that one store experiences a greater demand for the same product and adjust where I go to purchase that product accordingly. Without prices, this is literally impossible. Economic planning by the individual absent a price system is logically impossible; there's no way to measure and compare the relative utility of unlike things.

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Yes. We can compare things with values that actually matter. Such as sustainability, how little energy was used, how recyclable it is, how much time it saves, how durable it is, how much it facilitates lives, how much it is apreceated, how healthy it is, etc.

Most of the comparison of tools or devices is not price related.

Sustainability planning with a price system (a metric completely opposite to sustainability) is impossible so in this system we are marching to our demise.

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