7 What's Wrong with This Way of Thinking? Economics is unable to explain the value of goods...

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7 What's Wrong with This Way of Thinking?

"Economics is unable to explain the value of goods in a sensible manner. A quart of water is much cheaper than a quart of oil. Yet water is essential to both animal and plant life. Without it, we could not survive. How can oil be more valuable than water? Yet economics says that it is."

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