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Published on Jul 26, 2019
I'm not an economist...and I don't actually know how to define value, but I know that fewer people taking medicine while more money gets made is /not/ creating value because it means there's more pain and suffering in the world. I think we, more than anything, need to realize that the definition of value is something that isn't settled.
Sorry if this isn't what you were expecting. Ultimately, the money we have to spend is the best money we spend...but if there aren't systems in place to drive down the costs of those needs, we will spend everything we have on them. Those sources of extreme value: health, education, and housing being the big ones, can't be treated as if every drop of value should be extracted because, if that happens, the person will be impoverished by that system.