Arbitrary Value

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Arbitrary Value

A value not linked to an asset or liability, but created solely for accounting purposes. Critics of capitalism contend that a disproportionate amount of the value the market creates is arbitrary, though others strongly dispute this. Arbitrary value is also called fictitious value.
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You are pleased to set an altogether fictitious value upon half bottle of brandy we have left," he said.
Whether from commiseration for a woman of so miserable a destiny; or from the morbid curiosity that gives a fictitious value even to common or worthless things; or by whatever other intangible circumstance was then, as now, sufficient to bestow, on some persons, what others might seek in vain; or because Hester really filled a gap which must otherwise have remained vacant; it is certain that she had ready and fairly equited employment for as many hours as she saw fit to occupy with her needle.
Needless to say, the contrast between this accomplishment and those fictitious values espoused, as well as defended, in Abu Ghraib and GuantEaAinamo prisons are startling.