> Economists like to talk about "utility" and the common good with their theories, but they tend to only measure money
Yeah, that's the problem. The economic notion of value weights according to wealth while the moral notion of value does not. It's absolutely scandalous that we let economists conflate the two.
Feed a starving kid in Africa? Zero economic value. The kid doesn't have money. Figure out how to merge together a bunch of megacorps to build a monopoly, raise prices, reduce quality, and make the lives of millions strictly worse? The market will ejaculate capital all over your value-creating endeavor.
Yeah, that's the problem. The economic notion of value weights according to wealth while the moral notion of value does not. It's absolutely scandalous that we let economists conflate the two.
Feed a starving kid in Africa? Zero economic value. The kid doesn't have money. Figure out how to merge together a bunch of megacorps to build a monopoly, raise prices, reduce quality, and make the lives of millions strictly worse? The market will ejaculate capital all over your value-creating endeavor.