Elementary economic theory states that value is determined by rarity.

Well, not precisely. Value is determined by the amount of demand for the quantity available. Pure economic theory has it that value will be driven up by an excess of demand over supply. Therefore, anthrax-riddled sheep can be as rare as you like, but the value would still be zero (or negative) because the demand would be 0 (or negative).

In reality of course, scarcity is only one determinant of value.





The idiot also known as Capfka ...