Whoa. Someone find wolfnap a soapbox or an economics textbook because he's going off! Here's my take: value is derived only from the perspective of the individual -- the happiness, enjoyment, or productivity he or she gets from actually consuming the product. If someone is getting the equivalent quantifiable happiness, enjoyment, or productivity from a Kate Spade purse as another person from the $300 video card, it's the same damn thing!
I don't know what kind of agenda you're pushing, but I talked to your girlfriend last night and she wants a Kate Spade bag. If you don't get her one, I will.