Ascribing Worth
Every object has it’s intrinsic worth/value. However, it will be ascribed a different value by different people. To a poor child in the slums where the football they play with is made of rolled up paper, a real, rubber ball would be of immense worth. Yet that same ball would be regarded as nothing by a child who has all manner of toys as his heart desires. None of this changes the ball’s intrinsic worth (or market value).
In thinking about how we ascribe worth/value, I was able to come up with the following:
- Value ascribed because of scarcity: