Thought Experiments

The Diamond-Water Paradox


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In episode 4, we talk about value.  Specifically, the Paradox of Value - also known as the Diamond-Water Paradox.  This paradox states that even though something like water is more useful, it is cheaper than something like diamonds which aren't very useful at all.  So - what is value? What gives something it's value?
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Thought ExperimentsBy Ben Ingram

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