I think you’re describing the difference between instrumental value and terminal value. The market price of something is its instrumental value. A dollar is valuable because of the things you can buy with it, not because of intrinsic worth. On the other hand, human lives, happiness etc. have intrinsic worth. I think that the distinction will persist in almost any imaginable universe although the price ratios can be vastly different.
Hi Nate, nice post!
I think you’re describing the difference between instrumental value and terminal value. The market price of something is its instrumental value. A dollar is valuable because of the things you can buy with it, not because of intrinsic worth. On the other hand, human lives, happiness etc. have intrinsic worth. I think that the distinction will persist in almost any imaginable universe although the price ratios can be vastly different.