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Ironically, it seems that things not being valued is one of the major forces that imparts value upon them in the long run. You can drive up a thing's price by r
by mumblemumble 6y ago
Ironically, it seems that things not being valued is one of the major forces that imparts value upon them in the long run. You can drive up a thing's price by reducing supply, just like how you can do it by increasing demand. Once that's happened sufficiently, it becomes a Veblen good, and then the price takes off.
I've got a family member who, being somewhat aware of this phenomenon, has decided to hold on to everything that they think might become valuable in the future. I suspect that, over the years, the cost of warehousing all this stuff has easily outstripped any potential profits. Let alone any actual profits.
- deleted 6y ago[deleted]