The paradox of value

Lecturer TED-Ed Akshita Agarwal of entertaining paradox, well described one of the first economists Adam Smith.

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Imagine that you are a party game where you can choose one of two prizes: a diamond or a bottle of water.

The choice is simple – diamonds, undoubtedly, are valued more.

Now imagine that you need to make the same choice, only this time you are not a party game, but man, wandering several days in the desert and thirsty.

Your choice will change?


Diamonds ceased to be more valuable? published


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