People also pay for receipts of ugly monkey pictures and easily replicated carbon crystals. Economics tends to ignore that it's actually a psychological science, not a physical one.
Uh ... wow. Okay, so you think that economics ignores that there is psychology involved in supply and demand? That economics has never explored ideas like the substitution effect or the income effect? And this is before getting into behavioral economics?
And this is why we don't have nice conversations- economics is the dismal science not because it ignores what people do, but because, far too often, it tells us things about people we don't want to hear.
I assume this is some brilliant analysis of the different between price and "value," right? Oh boy.