Today I’d like to discuss an article I read some time ago on listverse (full article). The article describes 10 economic issues that we are less familiar with. I will quote the article for a short description of these issues and try to situate them in the context of sustainable entrepreneurship.
10. Paradox of value
Also known as the Diamond-Water Paradox, the paradox of value is the contradiction that while water is more useful, in terms of survival, than diamonds, diamonds get a higher market price. This paradox can possibly be explained by the Subjective Theory of Value, which says that worth is based on the wants and needs of a society, as opposed to value being inherent to an object.
The Diamond-Water Paradox is an extremely important and difficult problem when sustainability is involved (which it always is). At the moment we’re using our planet’s reserves at an enormous pace. The real…
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