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Your definition of "worthiness" is entirely flawed. It seems to be base on some random economics textbook definition of "value".

I am getting tired of repeating the exact same thing on HN, but TL;DR:

    . there is no such thing as intrinsic value, it is a fundamentally flawed concept.

    . the only reliable tenet in economics (as in: having always be observed to work) is the law of supply and demand, which "value" derives from: if demand>supply, value appears. End of story.

    . why there is demand in the first place is a many-colored and complex affair, which economist recurrently (and predictably) fail to analyze and forecast.


Asset pricing theory is a well established field within economics. Of course it comes down, in the end, to the law of supply and demand, but that doesn't mean that we have to stop here. The law of supply and demand doesn't explain why there's a supply and a demand in the first place.

https://en.wikipedia.org/wiki/Asset_pricing




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