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If I grow more food, I have more stuff. If I paint a painting, I do not have more stuff. Someone else might be more willing to trade my paint for more of their
by rtpg 9y ago
If I grow more food, I have more stuff.
If I paint a painting, I do not have more stuff. Someone else might be more willing to trade my paint for more of their stuff.
But in an econonmy where there are only $20 for the paint, Picasso won't be getting a million no matter how hard he paints. The money simply isn't there!
Reality is complicated, but if you're looking for a simple example of creating value in a "closed economy", art is not intuitively right