| Re: Why We Don't Celebrate A "Capital Day" |
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Group: alt.philosophy · Group Profile
Author: TimTim Date: Sep 20, 2008 01:47
"Publius" nospam.comcast.net> wrote in message
news:Xns9B1EC389CE414mpubliusnospamcomcas@69.16.185.247...>> 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?
>
> Tim solves the problem of missing labor by expanding the notion of "labor"
> to include any human interaction with a good.
Nope, I used the typical economic definition. You equated labour with ditch
digging. It's you who is toying with and changing definitions to suit your
purposes. Problem is you are yet to convince anyone.
I.e., I invest labor in a
> diamond-laden meteorite by noticing it lying in my back yard. An assessor
> imparts value to land by assesing it. He does not seem bothered by the
> question of how 5 minutes (or even 5 seconds) of "labor" thus defined can
> generate millions of dollars in value, or that he thus trivializes his
> theory.
>
> The labor theory of value is his story and he's sticking to it. :-)
That's your story, but remember you don't, nor will you, represent me.
Publius makes a problem by saying labour is a term used when people had
horses and buggies. Somehow (we're not told how) this is bad. Publius sticks
to that ubiquitous textbook known as the internet for his sources. Perhaps
if he gets a better job maybe he'll be able to go to college and actually
study economics. Hint: you won't be able to rely on the internet at college
for your sources.
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