Hugh Barker

This leads to errors such as the sunk costs fallacy (in which people find it hard to give up on a lossmaking project because of the money that has already been spent on it).

you really want to get geeky about it you can use the more precise 69.3 as the numerator and use what is known as the Eckhart–McHale second order rule, which is this equation:

live in a material world, in which money can help to create opportunities in life. We all know that money can’t buy you love or happiness. But the lack of money can certainly lead to deprivation and frustration

worth’. This is defined as the amount of money you would end up with if you sold all your assets and paid off all your debts at current values.

All monetary values are relative and all of them fluctuate over time

So value is relative, subjective and fluctuating.