I got a chuckle out of this little repartee. Looking forward to reading your paper.
Value is a judgement call, which is necessarily subjective and therefore non-intrinsic. I'd relegate the intrinsic what is objective. Objective is that which is subjective but agreed upon between subjects. So in the end, a judgement call nonetheless. Perception is reality.
Economically speaking, I agree. Philosophically, and on a broader scale, logic dictates that it is not so cut and dry. The sentence "perception is reality" is an objective truth claim, in and of itself.
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To say anything 'is', is an objective truth claim. That "logic dictates it 'is' not so cut and dry" is an objective truth claim. There is no way around this, to say anything at all is to posit objective truth about something. Edit: But it is posited by a subject.
The sentence 'perception is reality' is basically a tautology. There is no reality worth speaking of, only perception.
Edit: On a bit more thought, I think I'm leading myself down the garden path here. I'd go back to my first statement 'Objective is that which is subjective but agreed upon between subjects'. Saying something like 'Perception is reality' is stating my subjective view of an objective fact. There are different levels of logic going on here, one can be stated but is built upon the other. A bit like the number 2, it necessitates the number 1. Objectivity/reality is when you concur but without each of our subjectivity has no meaning.
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