I would like argue a point stated repeatedly, in what plays a big part in economics as it’s understood today; that what humans value, is subjective, and so, that means all value is subjective.

Not.

I would argue the point, that these are two very different things: that there is “real” value in the world, that is outside the subjective value of human beings, that does not change with time, and then, there is what we “think” is valuable.

What we think is valuable, of course changes with time, because we physically act on what we think is valuable, to perhaps learn that it did not prove to be valuable, only to adjust our subjective thought of what we think is more valuable now.

And would point out, that 1) what we think is valuable can be subjective, only because it’s a thought. Meaning, there is no measurement, or restraint whatsoever, of what can be and what cannot be thought of inside our brains. So, the determination of what is valuable, is only a dream.

But then there is 2), where there is the physical act of acting on that dream.

This is now a dream in a whole different world, taken outside of ones thoughts, where there is now finite energy, finite time and finite space, and absolute relativity and calculated measurement.

Where there is cause with relative effect over time. That cause and effect are not subjective whatsoever, and to the contrary, are mathematically absolute.

But that’s not to say one’s observation of cause and effect cannot be subjective, just like value.

And so, one can think subjectively, but that will have no effect on physical cause and effect, or the absolute physical consequence that follows any action.

No amount of subjective value thinking can change this outcome. Rather, depending on the outcome of any action, a subjective re-determination of value is normally made.

I may value flying, but after I try to jump off a tall building, it will be self evident what physical effect it has, which I would then reconsider what value it has. Valuing it more in my brain, does not change the calculated effect/value of it in the physical world when I initially act upon it.

But it seems now, after I acted upon what I thought was of value, that I value more, is not dying. Is this a subjective thought of value? Sure, and a more accurate one at that, no?

And now, I even value wings more. I didn’t before, but now I do. I wonder why that is? No reason, it’s just silly me being subjective, thinking I can determine anything just by believing in my self-centered silly feelings. I am the master of my universe!

No, nature just taught me the first lesson in real value, upon which all other real value is determined and is an extension of, and that is the value of survival and a higher quality of survival or of life. To act in another direction then this, is painful, and find you will (clear throat) “subjectively” value that action less.

Which is to consider, that survival and reaching a higher quality of life, cannot physically manifest itself in a belief or a dream, but can only manifest in physical reality, which can only be created by certain physical action, that has certain calculated effect and certain physical consequence.

The point is, to “believe” that one just has to “believe” what is valuable, and that belief is the entire justification and measurement for what is of value, is in the end, a falsehood. And so, our understanding of economics today, has a very big hole in it.

When acted upon, “subjective value” will prove out its “true value” in physical reality, when physically acting upon what one “thinks” is of value at the moment. Real value is made self evident over time, calculated and so determined solely within the physical condition, in which any physical action takes place.

Thoughts?

Photo credit Bigstockphoto.com inarik