Money is merely a counter representing real value that can be traded. It does not matter what the counter is until the parties issuing them become untrustworthy then you have Agentina.
Ciao, graywolf [EMAIL PROTECTED] ----- Original Message ----- From: Bob Blakely <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Monday, January 21, 2002 1:12 PM Subject: Re: I still want the A* 135/1.8 > From: "Robert Soames Wetmore" <[EMAIL PROTECTED]> > > > > >The value of any item is whatever two reasonably knowledgeable persons >are > > >willing to exchange it for. In general this is governed by the >supply and > > >demand. Usability or quality of an item is irrelevant >except in that it > > >may generate more demand. There are few other ultra >fast 135's available > > >and fewer still in K-mount, and only one made by >Pentax. [Bob Blakely] > > > > This is one very narrow definition of value conditioned specifically by an > > unquestioning allegiance to capitalism. > > No. Not based on capitalism. Based on liberty and irrelevant to any economic system. It is > based solely on the owner's liberty to evaluate the economic worth of his own property for > himself and of the liberty of the other party to evaluate the item's worth to him. Your > judgment that the definition is narrow is unfounded. > > Further, the definition is not narrow. It is extremely wide in what it covers. Except for > the intrinsic value of some raw materials as they are in the ground, every dollar > represents labor directly, and ultimately includes, in the long run not just the hours, > but the value of that labor to the society of the laborer. If a society is in dire need of > an item (i.e. a lack of a necessity), then the labor of those who produce the item is > high. If a society has a glut of some item and they are sitting on shelves everywhere, the > labor of those who continue to produce such items will have little value to society. > > > There are many other definitions, > > such as the Marxist definition which takes into account the amount of labor > > that went into making the item. > > Yes. A position where the liberty of both the owner and the buyer is thwarted and an item > of poorer quality may demand a higher price from the buyer who needs it than another item > of better quality produced by less labor through better manufacturing efficiency. This is > a system where someone (the buyer, the seller or their society) always gets cheated. > > > There are many better definitions of value > > as well which take into account more than just the crude dollar quantity of > > exchange at a given moment and locale. > > The original post was discussing "crude dollar quantity of exchange ". I stuck to the > topic. Also, you toss out judgments such as "crude" as though your use of the adjective > makes it so, thereby cheapening the hours of hard work by many. Dollars are nothing more > than "stand ins" representing the labor of folks and making it possible for a carpenter in > Milwaukee to build an addition to someone's Milwaukee home in trade for a car made by > someone in Detroit. Dollars are a stand-in for peoples work. Nothing more, nothing less. A > laborer's hard work and sweat (or stress, or whatever) is not "crude". Describing it as > such might seem... offensive. > > Economics is not about dollars (or euros, or yen, or pesos). Economics is about the trade > of goods and services among people. Dollars are simply an abstract representation of this > trade among people. > > Regards, > Bob... > -------------------- > "Let us contemplate our forefathers, and posterity, > and resolve to maintain the rights bequeathed to us > from the former, for the sake of the latter. > The necessity of the times, more than ever, calls > for our utmost circumspection, deliberation, fortitude, > and perseverance. Let us remember that 'if we > suffer tamely a lawless attack upon our liberty, > we encourage it, and involve others in our doom.' > It is a very serious consideration that millions yet > unborn may be the miserable sharers of the event." > - Samuel Adams, 1771 > - > This message is from the Pentax-Discuss Mail List. To unsubscribe, > go to http://www.pdml.net and follow the directions. Don't forget to > visit the Pentax Users' Gallery at http://pug.komkon.org . - This message is from the Pentax-Discuss Mail List. To unsubscribe, go to http://www.pdml.net and follow the directions. Don't forget to visit the Pentax Users' Gallery at http://pug.komkon.org .
