| Re: Why We Don't Celebrate A "Capital Day" |
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Group: alt.philosophy · Group Profile
Author: Michael CoburnMichael Coburn Date: Sep 19, 2008 14:32
On Fri, 19 Sep 2008 04:15:22 -0700, Fred Weiss wrote:
> On Sep 15, 2:32В pm, "Publius" nospam.comcast.net> wrote:
> >> No answer, eh?
>
> That's become a pattern with him in this thread.
>
> I'm still waiting for him to answer the question how raw, undeveloped
> land can be valuable - sometimes in the millions of dollars. Where's the
> "labor" in the value?
Ah... My drop zone has been entered. That is the mistake of the
classical economists or the mistaken interpretation of the classical
economists. Vakue is __**MEASURED**__ in labor because there is no such
thing as a "util". The error is in claiming that value _IS_ labor.
READ THIS:
http://www.greatervoice.org/essays/LaborTheoryOfCost.php
> On the other hand, I'm concerned about our little Tiny Tim. He's told us
> that food is scarce where he lives. Maybe he's undernourished and he has
> to spend a lot of his time searching for food, so its difficult for him
> to concentrate on the discussion.
>
> Btw, the reason why some land is more valuable than others is in fact
> because of scarcity. That's an actual example of the concept applying in
> economics. But why? Because you can't produce anymore!
Different sections/areas of land would be "valuable" even if I was the
only human being on the planet. The land is _VALUED_ in the labor and
discomfort I can forgo by inhabiting and _USING_ one section of land as
opposed to _USING_ another or in the exhilaration I will feel in one
place as opposed to another. Exhilaration is the opposite of discomfort
here. Exhilaration cannot be effectively "valued" without a market. But
rest assured that "LABOR UNITS" are the most stable metrics with which to
measure such relative value.
That's called _real_ economics Fred. You should try it some time.
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