Assembly: How Do We Value Things?

Wednesday 12th February 2014

On Tuesday 11 February, Mr Ian Chapman, Teacher of Business Studies and Economics, gave an assembly entitled ‘How Do We Value Things’ looking at how economists place a value on the “products that we consume and produce.

Please see below for the full script from the assembly and the powerpoint presentation:

Value and Worth – How do Economists place a value on the “products” that we consume and produce?

(Page 1) One of the key questions that economists ask is “how much are we prepared to pay in order to buy certain goods and services?” A box of chocolates might be “worth” £2.50 to us and this places a value on the box of chocolates. It will tell us the value of the benefit that we receive from these chocolates. However, can we really place a value on such goods or even services? How do we know what we are getting? Do I really know the true value when I buy education and what if my decision to buy affects others in a positive or even negative way?

These are all questions that must be explored when studying economics as we ask whether the market – where prices are set – is the correct way to allocate our scarce resources.

The question of knowing the true value hit home to an Australian lady recently when she put an advert on Gumtree asking to buy 2 IPhones. She met up with a stranger at a food outlet, parted with $1,200 without opening the boxes only to find that they contained 2 apples. As one witty commentator wrote “smartphones are now smarter than some of their owners!”

(Page 2) Talking of Apple, it is one of the most expensive brands in the world, valued recently at £98bn (although this has fallen more recently). This compares with the £97bn that the government spent on education in the UK. Can we really compare the value of a leading company to the value we place on education?

(Page 3) Oscar Wilde once said that a cynic “knows the price of everything but the value of nothing.” How do we value ourselves and others?

(Page 4) I would suggest that we can take our value from three different sources.

  • Appearances.

Very often we place great value in our looks and our appearance. The “orange glow” that emanated from some girls attending the recent Lower Sixth ball gave evidence of that! I should know as I tried desperately to remove the “colour cast” from the photos that were taken at the ball.

The following poem sums up the thoughts of a young man whose new bride wasn’t all that he thought she would be:

(Pages 5-9) “Side by Side” by George Younce

Well, I got married last Friday

My new wife stood beside me

When the guests had gone home

We stood alone

Side by Side

We were glad we were wed then

We got ready for bed then

Her teeth and her hair

She laid on a chair

Side by Side

One tin leg to follow,

one glass eye so small

She unscrewed her left arm

And put it on the chair by the wall

I stood there broken hearted

Most of my wife has departed

So I slept by the chair

There was more of her there

Side by Side

 (Page 10)

  • Intellect

We can sometimes place a value on ourselves (and others) by considering our intellect, our marks, our GCSE grades, AS grades etc. But if we do this then it can lead to us being afraid of making mistakes.

Witness the girls in the Sixth Form whose pens hover over blank sheets of paper whenever I ask them to write down what they might think the answer is to certain questions. “Tell me the answer, Mr. Chapman” is the usual refrain. “Think for yourself and just try it out” is usually met with “but I don’t want to get it wrong!!”

Are we so afraid of making mistakes that we get paralysed with fear and will never take a chance? If so, then perhaps we are placing too high a value on our intellect and our “grades”.

Oscar Wilde said that “Mistakes are the portals of discovery”. If we are afraid of making mistakes for ourselves then we will never truly know the true riches of making discoveries that will stay with us longer than the “information” that any teacher has given you and you have taken away to “remember”.

(Page 11) Does this mean that we don’t strive for accuracy? No, but we need remember that:

  1. a man must be big enough to admit his mistakes,
  2. smart enough to profit from them,
  3. and strong enough to correct them”      

John Maxwell – If we don’t know our true value and put it in our intellects then will never succeed. Never fear failure.

Failure should be our teacher, not our undertaker,

Failure is delay, not defeat,

It is a temporary detour, not a dead end.

It is something we can avoid only by …

Saying nothing …. Doing nothing … and being nothing.

Denis Waitley

(Page 12) 

  • True Value

So where do we get our true value from. I would suggest that we need to think of how much we are valued by a higher authority. I was grateful to Mrs. Harrington for reminding us that it is Valentine’s Day on Friday (so, incidently will be my wife!).

In the UK, we spend on Valentine’s Day

  • £1bn on cards, presents and flowers ($18bn in USA)
  • which equates to £120 for each person
  • and buy 2.8 million bunches of flowers

There are two other figures that I find amazing – £231m and 53%. The first is the amount spent on pets by “loved-up owners” and the second the percentage of women who said they would end their relationship if they didn’t get something for Valentine’s Day.

(Page 13) Can I reiterate that our value does not lie in how much other people spend on us or how many cards you receive. It does not lie in our looks or even our intellect. Our true value must lie in what God thinks about us. You may not even believe that there is a God or you may think that if He exists then He really cannot like you very much.

I met a man once who had become a Christian but hadn’t had the easiest of lives. He felt that God would be angry with him at what he had got up to. He read through the bible and discovered that, instead of being an angry father waiting to punish him, God had, in fact, placed great value on him. He wrote down some of the things that the bible says about what God thinks about us and presented it in a love letter written by God.

There is no better way to finish than to read this over ourselves so that we can try to understand that our “true” value has been placed on us by a loving Father who sent His own son to die for us.

Mrs. Harrington spoke yesterday of God’s unconditional love for us based not on what we do but just on who we are. Remember that we are human “beings” not “doings”.

The following is this “love letter” and may we all be blessed when we start to understand how much God the Father truly loves us. We will then have the confidence to take risks, learn from mistakes and know what our true value is – http://www.fathersloveletter.com

My Child,

You may not know me, but I know everything about you. Psalm 139:1

I know when you sit down and when you rise up. Psalm 139:2

I am familiar with all your ways. Psalm 139:3

Even the very hairs on your head are numbered. Matthew 10:29-31

For you were made in my image. Genesis 1:27

In me you live and move and have your being. Acts 17:28

For you are my offspring. Acts 17:28

I knew you even before you were conceived. Jeremiah 1:4-5

I chose you when I planned creation. Ephesians 1:11-12

You were not a mistake, for all your days are written in my book. 
Psalm 139:15-16

You are fearfully and wonderfully made. Psalm 139:14

I knit you together in your mother’s womb. Psalm 139:13

And brought you forth on the day you were born. Psalm 71:6

I have been misrepresented by those who don’t know me. John 8:41-44

I am not distant and angry, but am the complete expression of love. 1 John 4:16

And it is my desire to lavish my love on you. 1 John 3:1

Simply because you are my child and I am your Father. 1 John 3:1

For I am the perfect father. Matthew 5:48

Every good gift that you receive comes from my hand. James 1:17

For I am your provider and I meet all your needs. Matthew 6:31-33

My plan for your future has always been filled with hope. Jeremiah 29:11

Because I love you with an everlasting love. Jeremiah 31:3

My thoughts toward you are countless as the sand on the seashore. Psalm 139:17-18

And I rejoice over you with singing. Zephaniah 3:17

I will never stop doing good to you. Jeremiah 32:40

For you are my treasured possession. Exodus 19:5

I desire to establish you with all my heart and all my soul. Jeremiah 32:41

And I want to show you great and marvelous things. Jeremiah 33:3

If you seek me with all your heart, you will find me. Deuteronomy 4:29

Delight in me and I will give you the desires of your heart. Psalm 37:4

For it is I who gave you those desires. Philippians 2:13

I am able to do more for you than you could possibly imagine. Ephesians 3:20

For I am your greatest encourager. 2 Thessalonians 2:16-17

I am also the Father who comforts you in all your troubles. 2 Corinthians 1:3-4

I am your Father, and I love you even as I love my son, Jesus.John 17:23

For in Jesus, my love for you is revealed. John 17:26

He is the exact representation of my being. Hebrews 1:3

He came to demonstrate that I am for you, not against you. Romans 8:31

And to tell you that I am not counting your sins.2 Corinthians 5:18-19

Jesus died so that you and I could be reconciled. 2 Corinthians 5:18-19

His death was the ultimate expression of my love for you. 1 John 4:10

I gave up everything I loved that I might gain your love. Romans 8:31-32

If you receive the gift of my son Jesus, you receive me. 1 John 2:23

And nothing will ever separate you from my love again. Romans 8:38-39

Come home and I’ll throw the biggest party heaven has ever seen. Luke 15:7

I have always been Father, and will always be Father. Ephesians 3:14-15

My question is…Will you be my child? John 1:12-13

I am waiting for you. Luke 15:11-32

Love, Your Dad, Almighty God

 

Click here to view the full presentation

 

Recent News

Long service staff celebrated at Queen Anne's

19 July 2018

There was a cause for great celebration amongst staff towards the end of term as Headmistress, Julia Harrington, gathered staff in order to congratulate the long service staff members at the school.
 

Recent News

success seen in dance and tennis

10 July 2018

It has been a successful few days for girls competing in dance and tennis. The dance squad made their way to The O2 to perform in the finals of a competition and the U13 tennis team performed fantastically at the Independent Schools Tennis Tournament
 

Recent News

Generation Zzz: Queen Anne's School in the news

04 July 2018

Queen Anne's School feature in The Sunday Times and LoveSport radio on the discussion of the late start trial for L6 students.
 

Recent News

SPEECH DAY AND PRIZE GIVING 2018

04 July 2018

On Saturday 30 June 2018, the community of Queen Anne’s School came together for the schools annual Speech Day and Prize Giving ceremony to celebrate the end of the academic year.
 

Recent News

Queen Anne's Sports News

02 July 2018

A round up of all the latest sports news in the week.
 

Recent News

The 4s experiment with fizzy drinks and mentos

29 June 2018

The 4s took their science experiments to the sunny outdoors, on Thursday 28 June, to record the data of how mentos react with fizzy drinks
 

Recent News

Queen Anne's Boat Club Success at Henley Regatta

28 June 2018

On Saturday 23 June, we saw an amazing day of racing for the Queen Anne's Boat Club. We are so proud of the QABC squad after racing two quads to try to qualify and we managed to get one of the squads through to the next stage.
 

Recent News

The U4 create the Periodic Table out of cookies

27 June 2018

The Upper Fours, in their Chemistry lessons, have been decorating cookies all in the name of science. This was a great way to bring the topic to life, as they have studying the origins of the periodic table and behaviour of groups I and VII.
 

Recent News

U5 experience a day at the University of Bath

26 June 2018

On Monday 25 June, a group of U5 pupils visited the University of Bath where they were toured around the facilities and given a talk on University Life.
 

Recent News

U4 Mug Presentation

25 June 2018

On Wednesday 20 June, the Upper Fours had their final Lower School Meeting with Mrs McGrenary on the front lawn to celebrate their ‘graduation’ to the Middle School.
 

Next Event

L6 Welcome to Sixth Form Evening

11 September 2018

The L6 Welcome to Sixth Form Evening is an opportunity for our new Sixth Form students to experience a taster of Sixth Form life.
 

Next Event

Open Morning

15 September 2018

You are invited to visit Queen Anne’s School at our Open Morning on Saturday 15 September, meet staff and pupils and enjoy a tour of our school before hearing from our Headmistress, Julia Harrington.
 

Next Event

Breakfast with the Head

18 September 2018

On Tuesday 8 September, parents are invited to join the Headmistress, Julia Harrington, at Café 6 in The Space at 8am for breakfast.
 

Next Event

L6 Ballroom Dancing with The Oratory School

18 September 2018

Students from The Oratory Boys' School join our Queen Anne's L6 Students for an evening of ballroom dancing.
 

Next Event

U5 Art Trip to BP Portrait Awards

19 September 2018

U5 Art students travel to London for the day, for an inspiring trip to the BP Portrait Awards at the National Portrait Gallery.
 

Next Event

Queen Anne's Society Reunion Day

22 September 2018

Families are welcome to our Queen Anne's Society Reunion Day on Saturday 22 September, from 11:30am.
 

Next Event

L6 Ballroom Dancing with The Oratory School

25 September 2018

Students from The Oratory Boys' School join our Queen Anne's L6 Students for an evening of ballroom dancing.
 

Next Event

Macmillan Coffee Morning

28 September 2018

Queen Anne's girls will be hosting their own coffee mornings in their dedicated houses in aid of Macmillan Cancer Support.
 

Next Event

L6 Ballroom Dancing with The Oratory School

02 October 2018

Students from The Oratory Boys' School join our Queen Anne's L6 Students for an evening of ballroom dancing.