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Scarcity creates a lower bound to cost. If the lower bound for every good and service drops such that no human can afford to live between material cost and the
by randallsquared 14y ago
Scarcity creates a lower bound to cost. If the lower bound for every good and service drops such that no human can afford to live between material cost and the finished cost, then humans will be out of work except for charity. There might well be boutique human-crafted items, but counting on that for the survival of 7-15 billion humans seems premature. :)
- bobwaycott 14y agoThis may well be true, but this is still only a matter of cost, not value. Again, I apologize for being pedantic on the matter, but my point was that the value of a commodity, including labor, is a very different thing from the cost of that commodity.