What is the intrinsic value of email? It does something useful. If space aliens came and took our email from us, how much ransom would we pay to get it back? But it doesn't have any muy intrinsic value.
In and of itself it does nothing. It's more that people subjectively value it. Like telegram had value when people used it, but not so much any more. There is no intrinsic value.
Value is not intrinsic; it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment.
Ludwig von Mises, Human Action: A Treatise on Economics
What is the intrinsic value of email? It does something useful. If space aliens came and took our email from us, how much ransom would we pay to get it back? But it doesn't have any muy intrinsic value.
In and of itself it does nothing. It's more that people subjectively value it. Like telegram had value when people used it, but not so much any more. There is no intrinsic value.
Ludwig von Mises, Human Action: A Treatise on Economics