>
While money and social contribution are not equivalent (which nobody claimed), they are massively interlinked and correlated—by design, by necessity.Are they though? Adam Smith (and others) have argued that, but I think that the correlation is at best accidental. The mechanism that connects money with society is demand (money goes to those providing something people want).
But society can demand all kinds of things that weaken or destroy it as well. Many had in the past, and many have today.
It's not even about individual judgement vs society: in many cases the whole of society can agree that X is harmful, but tons of people will still demand it (and thus reward it with money) nonetheless (including the same persons that condemn it).
It gets worse when a full scale, highly elaborate, mechanism of advertising, consumer manipulation, misinformation, etc is at play to make people want this or that.
And we haven't even added monopolies, favoritism, etc to the list that much further skew money awarded as a measure of societal demand (as this demand can be artificially propped up)-- and even worse for societal value.
So, my argument is that at best money counts demand (not the same thing as value), and that even that can be skewed.
>I'd take "social value according to money" over "social value according to coldtea" any time, when evaluating long-term societal contributions.
>Not ideal but it's a distributed process honed over millenia, with many costly experiments and some non-obvious failures and successes.
I'm not sure it's that honed. For millennia economy took the backseat to other considerations (civic, religious, philosophical, moral, cultural, etc). To the point that individuals and societies would not follow certain money making paths against those considerations.
It's only in the latest couple of centuries that economy took the seat front and center - and not necessarily for the better (and we have a long way to learn about the cost of the externalities we amassed while doing so, which might even leave the planet uninhabitable).
Winning (and not even that easily -- it took almost 80 years) over a few communist countries with inflexible dictatorships starting from ex-rural / third-world conditions, is a pretty low bar to determine the effectiveness of the market/money as the measure of societal value.