Value

What is something worth? If it is a commodity like gold we can look up the current value on line or at a market like the CME and trade on the spot or futures market. You can go to one of those cash for gold places. That doesn’t answer the question what is the value? To a solitary man stranded on a desert island gold has little value. In Robert Heinlein’s YA book StarShip Troopers the high school professor awards 1st place to a student who came in 2nd at a race to make the point that has no value to the student. They did not earn the award. The point being value stems from individual evaluation.

Some things have such a high value that really cannot have a price. For example, if you are a mother or father what value can you put on watching your child grow up; Participating in that journey. The value to them is much higher than to me or another stranger. How much would the parent accept as payment to forgo those experiences? I dare say IF there was a dollar figure it would be very very high.

My point is value is subjective.