2024
Working Paper
HBS Working Paper Series

Priceless: How to Create, Trade, and Protect What Matters Most

Format:Print
| Language:English

Abstract

This article explores the concept of the "sacred economy," a realm of human interactions and exchanges that transcends traditional market dynamics. It illustrates the emotional and relational aspects of human connections that cannot be quantified or traded like material good and argues that key elements such as love, forgiveness, and familial bonds constitute "sacred goods" that must be mutually created through human interaction rather than purchased. The paper employs economic principles to analyze how these intimate exchanges can be improved, despite their inherently non-commercial nature, and by recognizing that traditional market mechanisms of supply and demand fail to apply here, proposes alternative strategies for enhancing communication, assessing value, and fostering the production of sacred goods. It asserts that while many aspects of life cannot be commodified, effective frameworks and tools can still facilitate the nurturing and protection of these invaluable human connections.