100 Words On: The Science of Defining What's Truly Priceless

Some things are utterly impossible to put a price on. For example, regardless what’s offered, no rational person would ever sell their family. It’s also impossible to put a monetary value on good health — let alone human life. Even so, that didn’t stop Stanford economists from determining several years ago that the value of human life was roughly $129,000 — a finding which brings to mind Oscar Wilde’s observation that cynics know the price of everything and the value of nothing.

The bottom line: Ultimately, the price of everything is in the eye of the beholder. Whether it’s correct, however, is another matter altogether.

Photo Credit: The Honeybee

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