The Price of Everything: The Cost of Birth, the Price of Death, and the Value of Everything in between

Why do you believe that saving lives from terrorist attacks is worth saving from natural disasters? Why are men more valuable than women? Why do Americans crash even though Europeans are not? How to use orange juice for weather forecast?

All prices begin with a simple idea. Regardless of whether you buy or take away coffee, all the decisions we make are the price behind it.

"We understand the price and value of everything." This means considering all factors in terms of cost and benefit, placing prices on both. But we do not look at all other sources of value. For example, employees are not just getting worth in the form of salaries from their jobs. If management seems like everything they care about, they are unlikely to be concerned about their work and motivated or productive. Nonetheless, we tend to narrowly see value, economic value, and sometimes other forms of tangible value. Until recently, efforts have been made to understand and measure the value of intangible assets, such as the importance of reputation and human relations. However, these factors may have the greatest impact on the organization's ability to create value and ability. To make matters worse, companies also tend to look narrowly in terms of shareholder value or customer value, and mainly from a financial point of view.

Cynical Oscar Wilde wrote in his play "Fan of Lady Windermere": "People know all the prices, they are not worth." This means that price and value are two different concepts It is clearly consistent with the circumstances around us. When we are invited to a dinner party, we usually do not pay owner, but we receive gifts. Material cost and gift price are not particularly important. We usually do not ask a friend to contribute to the cost of making friends drive a car when riding an elevator.

Labor is a true measure of the exchangeable value of all goods. The actual price of everything, the cost of the person who wants to get it is a tough task and problems to get it. For those who already got it, for everyone who wants to deal with it or exchange for something else, everything is really worth it. Therefore, workers alone never change their values, they are only the ultimate realistic criteria to estimate and compare the value of all products anytime, anywhere. This is their real price and money is just their nominal price. (Wealth of the people, 1776)