Today marks the anniversary of a fateful day in the history of the Western world. On March 15, 44 BC, a group of Roman senators assassinated Gaius Julius Caesar. Caesar, dictator for lifetime, was seen by these senators, many of whom were personally indebted to him, as a tyrant and a threat to Roman liberty. His death was supposed to restore the republic. It is well known that the assassination of Caesar succeeded, but the republic fell into a civil war and ultimately became a monarchy.

[This article is a summation of arguments made in a recent academic publication in Small Business Economics Journal, entitled “Subjective Value and Entrepreneurship” by Drs. Per L. Bylund and Mark D. Packard.] 

What is the value of a pizza?