You didn’t even attempt to come up with a coherent explanation for where and why your valuations matter. Why is that?
First you referenced Friedman. Is he really the most relevant economist regarding the proper scope of your valuations? If so, a direct quote would help prove it.
Next you went on to attack the idea that spending money is the most important form of communication. Has money always been around? Of course not. But spending sure has been. Spending is the same thing as sacrificing. In economics… the term is willingness to pay (WTP). Money is simply the most convenient way to pay.
… certainly have some attractive qualities, but although Graeber wins the battle against the “Myth of Barter” here I think he loses the war — really, although the discussion of socially embedded exchange is incredibly interesting and illuminating, I think anyone who reads the passage above is going to end up sympathizing with the people in the economics department who say that you really can’t organise a modern industrial society on the basis of organising a wife-swapping party every time you want to buy a blanket. — Daniel Davies, Too Big To Fail: The First 5000 Years
Then you said something about humanity living according to its actual values. What does this even mean? Where do we find these “actual” values? Under some rocks? All values, actual or otherwise, are inside people. And there are only two ways that people can reveal these values…
- stated preference (speaking, voting, polls, surveys, Facebook “Likes”)
- demonstrated preference (WTP)
And then you went on to say something about markets telling us how best to live. It’s like you’re replying to the wrong person. I’m pretty sure I never said anything even remotely resembling this.
Lastly you said that of course our valuation of products matter. Well yeah… I know that our valuations of products matter. What I’d like to know is the proper scope of your valuations. Where and why do your valuations matter? Where and why do your valuations not matter? What’s the rule?
If you don’t know the answer… then just say, “Hey guy! I haven’t given it much thought! I really don’t have an explanation for why my valuation matters for some things but not other things!” Don’t just ramble randomly around.
I gave you a crystal clear target. If it’s way outside your range of effectiveness then don’t just shoot a bunch of arrows in random directions hoping that I won’t notice that none of them landed anywhere near the target.