Price versus value

Six Michael Jordan sneakers have sold for $8 million ($12 million in Australia). It does raise a question of value versus price. There is no value in them as shoes to wear as only one of each pair is being sold. Many objects have a price but lose value quickly, think of an icecream’s value five minutes after it was bought. Of course, anyone can buy whatever they want, at any cost, if they have the money although the wiser ones will think long term.

In terms of value the six sneakers could pay the first year’s salary of 160 beginning teachers, if they can be found. As to which provides more value I, as an ex-teacher, think the 160 new teachers would be the better choice.

Dennis Fitzgerald,

Melbourne, Australia