Is it possible to decide the fair price of any stuff or service?

Can we decide the real price of any stuff or service?  I strongly believe that never we can.  Which is the price that you can consider the fair price? In general, we have all randomly decided prices today for each product and services and we believe they are fair prices. On what bases can we decide that this is fair price? In reality there is no firm base for it. What we have is all beliefs.  Consider that for some stuff there is a market value of Rs. 5000 for now and you know it well. You went to market to buy that stuff and someone ask you to pay 5010, you feel like he is robbing you. Same way, if the stuff is sold for Rs. 50 and if someone asks you to pay Rs. 51, you still feel the same. How can you decide that the earlier set price Rs.5000 is fair price? May be the very next day someone may give you the same stuff for Rs. 4500 and you will start believing that it is fair price and you will feel that Rs. 5000 was unfair price. After few days someone will offer the same stuff in Rs. 4200 then you will feel like Rs. 4200 is fair price and Rs. 4500 was high or unfair. Just after few days someone will give you same stuff with same quality and quality for Rs. 3000 and you will feel like you were cheated for so long time with higher prices by earlier merchants .

The stuff having price of Rs. 20 in present and if that stuff price is raised to Rs. 500 and allowed to be steady for next 6 months, you will feel like that new price is fair. You can never guess how much one earns. It is possible that sometimes someone may be losing even if selling you the stuff for Rs. 500. The stuff you buy for Rs. 20 in present, if someone demands Rs. 25 to you for same product, you will feel like he is cheating you. But we never know that even selling the stuff for Rs. 25, he may be still making loss. May be to get real profit, his stuff value should be more than Rs. 500. There is no base to decide the price. All are just random predictions. You may say that price set by keeping 10% profit is right price. But it may make a person in loss. A person selling stuff in bulk can work with just 5% profit margin and someone having few products to sell may lose even if having 50% profit margin. So that criteria is not correct either. You may say that he should earn honestly. What is honesty means here? You may reply, to sell it at fair price. What is fair price then? Taking no so much profit. Ok, how much profit is fair, 10% ??  We already rejected that part. Then? He should earn only as much that he can have basic good life, right? How can we define basic good life? We can’t do it either. Doesn’t he wish to have big land, big building, big house and many vehicles? You will have no answer further. How much one should earn? There is no limit to earning and so we can’t define how much profit one should take. And so we can never define fair price. ( Throw away all your modern economic theories, there is nothing fair in it  )

We can decide that how much food is necessary for one time food for one human body to run properly. Which is not fixed but we can have average. Let us consider that it is 500 gms. So it will be around it. Someone may eat 700gms and other may eat 250gms. But nobody will eat 2kg or more in one time food. Today, this 500 gms food you sell it to someone to eat in Rs. 50. The very next day, you sell him food for Rs. 800 price and you will say this is only fair price. Primarily that person will feel like you started robbing. First 3-4 months he will feel like that but after that he will accept that price and it will feel like Rs. 800 as normal price. It will become new fair price. Now if price raised from Rs. 50 to Rs.800 doesn’t mean that food intake capacity of the human beings has increased from 400 gms to 5kg. That fact remains unchanged.

If you can understand how the whole economy is run, their principles and their bases, how they increase and decrease the prices, you will realize that everything I said here is true. Present economy is on baselss theories. It stands on conditional exchange than real necessities; it stands on the base of cheating others. There is nothing like fair price in it. Whatever is it is just an illusion. In this economy, we always see 2 people opposite to each other in cold war. We rarely see that on economy point of view 2 people wish the well being of each other. Their motive goes in just profit making only. Do we see any intent of wellbeing for each other between a restaurant owner and customer?

It is big surprise for me that why this well progressed and most intelligent human being is unable to understand this simples thing. And this well developed human society is not putting any effort to correct this system is even bigger surprise for me.