03 Aug '12, 2pm

Drumbeat: August 3, 2012

I disagree. I think interventionism is often well-intentioned but poorly executed, but don't underestimate the ability of environmental concerns to alter value assessment. We talk a lot about price. However, people don't make choices based on price alone but based on value. Value can include other variables besides immediate, up-front cost. For example, I invest in really expensive boots for my construction job. As a result, they're going on 10 years and a second sole. While the upfront costs of the initial purchase and the resole work amount to about $600, this means that I've spent, thus far, $60 dollars a year to keep my feet safe, comfortable, and unharmed from the rigors of the many job-sites I must frequent. This number will go down as I probably have another five years before I'm due for another rebuild. These boots were more expensive, but they were also more valua...

Full article: http://www.theoildrum.com/node/9383

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