| This question <72|35> overall <72|74> Hans: <72|76>. |
| Question 57: How do you explain the fact described here by Marx that the price of many scarce goods is below their value? |
| [73] Hans: Success at the third try Skippy's answer [42] to Question 57 is very similar to Angela's [35]. The only difference is that Skippy knows better what is meant by “scarce” in the context of the present Question. After two bummer answers [35] and [42], Camera's [51] is like a ray of light. Camera notices that Skippy, although he knew what was meant by “scarce”, did not use this knowledge in his answer: |
| I feel that Skippy's answer to 57 did overlook an important element to the question. That is the idea that these goods are scarce. It is true that with changing technology and new discoveries, the scarcity of these goods can change at any time. However, it is the element of the unknown that brings about undervalued goods. |
| Excellent point. I also like how Camera integrates Skippy's answer in her answer. She should have done it a little more explicitly, but it is fairly clear from her answer that the expectation that new technologies may at any time change the scarcity status of the good is part of the uncertainty she is talking about. Unfortunately, the examples Camera brings use exhaustible goods rather than just scarce (but reproducible) goods; therefore they bring in additional complications. |
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