Price is subjective
Some people try to find a “just price” or somesuch for goods. They claim that a just price, no more or less needs to be paid, to avoid exploitation. Who decides this price? It’s always some third party. forcing their price on another. Doesn’t sound very just to me.
But wait!, defenders of the “just and fair prices” complain. What if someone is charging more than the objective value of something? Isn’t this unjust? Well, if someone was to charge more than the objective value of something, perhaps that could be a crime. It’s a theoretical situation though — because objective prices do not exist — all value is subjective.
Consider anything at all. Necessities like food, luxuries like your favorite food. Utilities that are necessary for you to work, like a car, or that painting on the wall that sits there. Everyone’s prices for these things is subjective.
For example, look at the food — you might pay a lot for a dish of your favorite food. If someone brings a second portion, you might not pay as much — you aren’t quite so hungry anymore. You might eat a third portion, by the fourth, there is no way you would pay as much — you’ll have to eat them as leftovers, they are not as good. Eventually your fridge and freezer are full, and you wouldn’t take anymore for free — it will just go to waste. All of a sudden, this very same thing that you paid so much for, you won’t take for free — it’s worthless to you. The price you will pay is completely based on how much you can eat, how much you can store, how much of your resources you care to put towards it. This applies to everyone as well, their ability and desires inform how much they are willing to pay for something — your neighbor, who hates your favorite food, is likely to pay significantly less for the same dish, even the first portion.
This should illustrate the issue with “just prices”. They are just only according to the third party, who is forcing buyers and sellers to pay their decided price — while the buyers and sellers are forced to accept.
