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> ... represents the work it took ... > ... represents the equipment and electricity it took ... Work does not give a thing value. You could hire 1000 worker
by panarky 6y ago
> ... represents the work it took ...
> ... represents the equipment and electricity it took ...
Work does not give a thing value.
You could hire 1000 workers with 1000 shovels to dig 1000 trenches 1000 meters long and then fill them all back up. That would represent a lot of work but it wouldn't be worth anything.
- nly 6y agoYes, work just makes supply expensive, it doesn't create demand... unless you're a psycho and just want to own things that caused untold human suffering to produce.
- fragsworth 6y agoIt is difficult for most people to wrap their heads around the fact that asset values are largely based on collective beliefs. Most people refuse to even accept it as a possibility
- Bancakes 6y agoBy that logic, processors should cost $5 because they are molten sand and coins.