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by clavalle 5129 days ago
The problem with this theory is that it assumes a couple of things:

1) The market fully defined by exchanges underwritten by currency (read: a fluid medium of exchange).

2) Value can be assigned to anything and is therefore finite in all circumstances.

But there is a singularity where it all breaks down:

The value of one's life is infinite. Without it, no other value matters. If I could give you $10 trillion but I kill you 60 seconds afterward, what value does it have?

One's life cannot be underwritten by currency because currency is finite. Therefore the market as defined as an exchange of value underwritten by currency is inadequate for any exchange where one's continued life is a factor.
1 comments
ataggart 5129 days ago
>The value of one's life is infinite.

That is demonstrably false. Everyone of us could, at a cost, reduce his chance of dying tomorrow.

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clavalle 5129 days ago
How is that relevant?

Edit: Which is to say, I don't think you demonstrated that statement is false.

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slackson 5128 days ago
If people are willing to accept an increased risk of dying for a dollar value, that means they don't value their life infinitely. If they did, no amount of money would be worth an overall increased chance of dying.
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clavalle 5128 days ago
I see your point.

What is 1% of infinity?

Each individual must make an approximation.

What is a good approximation for infinity value for an 18 y.o. with a high school diploma?

If they were perfectly rational, it would be the present value of all expected future earnings.

Such a calculation would make taking a job as an oil platform underwater welder make sense.

Trouble is, it is only a convenient approximation. It can expand to fit any circumstance.

So if you own, say, a trading company worth $10 billion and you hire someone (or some entity) to be in charge of protecting your life, the substrate on which all of that value rests for you, you've just handed them a check for $9 billion plus the present value of all of your expected future earnings and asked them to keep good care of it.

How do you think a perfectly rational actor would respond?

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