Re: Anybody want a *$600* SecondSight VGA Card from Ebay?

[pausch@saaf.se (Paul Schlyter)]

In article <447B81FF.2000408@spurgeon.net>,
Mike Spurgeon  <mike@spurgeon.net> wrote:

> Paul Schlyter wrote:
>> In article <447B4059.6020601@spurgeon.net>,
>> Mike Spurgeon  <mike@spurgeon.net> wrote:
>> 
>>> Paul Schlyter wrote:
>>>> In article <447AA4CB.3080400@spurgeon.net>,
>>>> Mike Spurgeon  <mike@spurgeon.net> wrote:
> 
>>> An item is worth exactly what a willing seller and a willing buyer agree on.
>> 
>> Well, that means that if I sold you a piece of brass, claiming it was
>> solid gold, and you trusted me and were willing to pay gold price for it,
>> then that piece of brass would be worth much more than other equivalent
>> pieces of brass?
>> 
>> Another example: if I sold my house for, say, $1,000,000 and if soon
>> after that sale another person popped up who would have been willing
>> to pay $2,000,000 for the same house - should I then say "No, it wasn't
>> worth more than $1,000,000" ???  After all, $1,000,000 was the price I
>> and the first buyer agreed on....
> 
> Your logic sucks.  As well as your economics 101.

Whats "101" in this context?

> Neither example has anything to do with what I said.
> 
> An item is worth exactly what a willing seller and a willing buyer agree on.
> 
> That's the worth to the seller AND the worth to the buyer.

With your logic, the worth of some item becomes something utterly volatile....
You e.g. pretend that fraud does not exist.  According to you, in my example
above that piece of brass was actually worth as much as gold.

> Neither cares a whit about your brass and house.

Not even those who sold and bought the brass and the house?

-- 
----------------------------------------------------------------
Paul Schlyter,  Grev Turegatan 40,  SE-114 38 Stockholm,  SWEDEN
e-mail:  pausch at stockholm dot bostream dot se
WWW:     http://stjarnhimlen.se/