And there is pragmatic justification for this habit: if I want to determine who should receive a good, dollars are probably the best measure of strength of preference. If I gave the good to someone for whom it "meant more" but who was willing to pay less, I could implement a Pareto improvement by giving the good to the person who was willing to pay more and then performing an appropriate monetary transfer.
So a homeless man with no income prefers a McDonald's cheeseburger less than a person with a comfortable income and a moderately-successful standard of living, who prefers it less than a very wealthy person making $5 million USD annually? It costs a dollar no matter who's buying it...
It costs a dollar no matter who's buying it...
But not everyone values it for a dollar? People who don't buy burgers value them for less than a dollar, and people who buy them value them for more, so people who eat at McDonald's value it more than millionaires. I gave the standard economic justification for using dollars to quantitatively estimate desire.
There is a moral question here: should I take money from rich people to give it to poor people? Reasonable people I know tend to say yes, at least in the world as it is today, and I agree. But this is a moral question, not a factual question, as far as I can tell.
A article in the Atlantic, linked to by someone on the unofficial LW IRC channel caught my eye. Nothing all that new for LessWrong readers, but still it is good to see any mention of such biases in mainstream media.
I break here to comment that I don't see why we would expect this to be so given the reality of academia.