Rarity increases value only because of convention . A rare stamp can be worth thousands , even though it is useless , not necessarily beautiful and made of , simply because it benefits both seller and buyer to imagine it as a vessel for value -- rather like a bank note . In addition , the value assigned to it is the result of a negotiation that is fundamentally arbitrary ' Therefore , value is a social construct , which we always knew . However , the keys to understanding that...











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