Price is a simple thing to define: it is an objective value determined by the forces of supply and demand. If I asked you what the price of a certain security was, a simple Google search would give you the answer. Value, however, refers to how much something is actually worth - a much more complex thing to understand.
Is value an objective figure? Given every possible variable relating to the production/scarcity/uses/etc of an item - would it be theoretically possible to work out what it is worth?
Given every relevant piece of information about the US and global economy, would it be possible to objectively calculate the value of a dollar at a given point in time?
Is value an objective figure? Given every possible variable relating to the production/scarcity/uses/etc of an item - would it be theoretically possible to work out what it is worth?
Given every relevant piece of information about the US and global economy, would it be possible to objectively calculate the value of a dollar at a given point in time?