Paul
2011-03-06 15:07:23
The criticism of Murkowski’s sweetheart deal is contaminated by an old error, namely that value is something which inheres in a physical thing, in this case a plot of land. But the fact that even just two different people can desire it unequally should be enough to suggest to you that the concepts of “appraised value” and “true market values” are hoaxes.
And no, it’s not true that a thing is worth whatever someone is willing to pay for it. That’s merely the fallacy used in a different way. The critics need to reframe their criticism without employing the fallacy of objective value to support it.
