Which of these are true about the apparent contradiction known
as the paradox of value?
It...
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History, 10.02.2021 09:50 aprilstalder
Which of these are true about the apparent contradiction known
as the paradox of value?
It was due to the fact that some items like diamonds
had very high utility and very low practical use.
It was not resolved until it was realized that something
had to be scarce and have utility in order to have value.
It was first explained by Adam Smith in his famous
book The Wealth of Nations.
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