"Hey Mom and Dad. I may not be an Econ. major but I totally understand VALUE."-Such is an ad for HP Computer Sales Pitch. Quandary would be in the minds of netizens in USA and in China.
I raise my queries for "VALUE" as follows:
1. Material worth? Estimated?
2. Spiritual utility(satisfaction)? Hard to utter!?
3. Qualitative dimension? Difficult to count!
4. Quantitative data? No exact numbers!
5. To be appraised? How? When?
6. To be assessed? Where? What? By whom?
7. To be evaluated? How often? Time lag!?
8. What is the precise meaning of Value? What is the true value of anything?
9. Is such value truthful?
10. Truth is multi-dimensional in Economics so there is no pat answer.
Francis Shieh a.k.a. Xie Shihao with conviction of the proper state of mind for daily happenings with deep reflections.
Monday, August 3, 2009 at 10.10 a.m.
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