Value

A problem needs a solution, and someone comes up with the solution. That creation has value to the person in need of it. A measure of the value does not exist until enough people know of it and express a need or want of it. If they wish to buy it, use it or somehow benefit from it, then what they pay creates a known value for it.

That specific solution may be a process or a physical product, thing. The value of things generally is much easier to create. Processes are not as easy to value.  Still, a dollar value emerges.

A person writes a book. It is published and sold to the public. It has a value as stated by the publisher. If the stated price is too high, the price is lowered so the number of books sold increases to exhaust the inventory. It the price is too low the books will sell out and another edition is likely to be printed. Either way, a price becomes a settled matter given conditions of sale and acceptance.

A person writes a play. If a producer likes it enough to create a stage production or film of the play, there is a price established for him to buy the rights of the play in order to produce it, and then to charge a price to attendees of the play. A value emerges in these instances.

A product manufactured to perform certain functions is sold for a price established within the marketplace. Once settled, the value of the product becomes well known. Automobiles are a good example of this. Or widgets, tools, boxes or food items. Things on the market generate a stated price to mark their value relative to the millions of other goods on the market.

A reporter or writer of essays that are published broadly as in newspapers or magazines, earns a value as well. The publisher agrees to pay the author for his/her work. Perhaps by page, word or size of circulation, the price becomes established accordingly. Some writers get paid a large sum because they are well known and eagerly followed. Others less followed are paid much less. What they produce in their writings are ideas. Ideas that excite intellectual activity used to better understand a complex topic is an example. Some essays are read by very few people in special market segments; their work advances understanding in an academic or professional discipline. This work is valuable to the users and profession. Appropriate values are accorded such writings.

Belief systems also have value. Religious creeds, theologies and such are examples of such systems. The same is true of political ideologies. People are employed in these systems of belief, earn a living or are paid piecemeal for their efforts and results. Although this creates a value measure for such work, the belief system itself has a different, unmeasured value. Theological values bring followers a benefit of comfort and understanding of their life and world. Political ideologies bring sense and order to followers of specific belief systems. Democracy is a value system rooted in the value of individual human beings. Rights, duties and governing principles are the results that hold value to the followers. Neither of these systems produce a known dollar value for their ideas or tenets. But value is present and hugely supported by followers.

Not all things in life have a dollar or asset value. Their importance to mankind, however, is enormous. We live by them. Sometimes we die for them. The economics at those times do not matter.

April 28, 2025