Marx wrote:Isn’t economics supposed to be the most inane of all sciences?
Hardly reflects reality & all attempts to make it fit require the most tenuous of extrapolations.
As the holder of an economics degree I would have to agree
I don't consider economics a science in the same vein as chemistry or biology, nonetheless, it is still a study of human behaviour. If you stopped studying the dismal science at the end of your undergraduate degree, then I can understand why people would think along the lines expressed above. Sometimes we are accused of "knowing the cost of everything but the value of nothing". I disagree with this...
Baudman's point regarding the value of his children, pretty much everything has value but it is in the eye of the beholder and just because it can be valued, it doesn't make it tradeable. That is, value is not the same as willingness to pay. We can reliably estimate the number of impoverished children that can be saved by a vaccination that costs $x - this ascribes a value to their saved lives but we can't buy those children for $x.
Sorry, way off topic... umm, we're a one car family, live inner city so I ride to work in the cbd. Some people aren't in a position to do that, by their own choice, lack of imagination or it just isn't possible. What I save on my car, my housing costs are higher and I have less space than if I lived out further.