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Originally posted by Asher
No need to be bitter now...
No need to be bitter now...
I am happy, happy, happy
, despite being sick with a bad cold .-Drachasor
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Talking to yourself again?
I am happy, happy, happy , despite being sick with a bad cold .
-Drachasor"If there's a child on the south side of Chicago who can't read, that matters to me, even if it's not my child. If there's a senior citizen somewhere who can't pay for her prescription and has to choose between medicine and the rent, that makes my life poorer, even if it's not my grandmother. If there's an Arab American family being rounded up without benefit of an attorney or due process, that threatens my civil liberties. It's that fundamental belief -- I am my brother's keeper, I am my sister's keeper -- that makes this country work." - Barack Obama -
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I am happy for other reasons, and I think the dayquill I took this morning has worn off.Originally posted by Japher
cold medicine roks
-Drachasor"If there's a child on the south side of Chicago who can't read, that matters to me, even if it's not my child. If there's a senior citizen somewhere who can't pay for her prescription and has to choose between medicine and the rent, that makes my life poorer, even if it's not my grandmother. If there's an Arab American family being rounded up without benefit of an attorney or due process, that threatens my civil liberties. It's that fundamental belief -- I am my brother's keeper, I am my sister's keeper -- that makes this country work." - Barack ObamaComment
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Perception and evaluation create changes in value? Are you kidding me? This is worse than that ACTUAL theory that money creates value. And I'm accused of trolling? You're confusing results with causes. As I said, it's all just smoke and mirrors.Originally posted by Shogun Gunner
Money is a "store of value" by definition. Perception and evaluation of the "store of value" by economic agents in a free market economy does produce changes in the value which are not connected to labor. It's a free market after all.
I'm guessing DanS has made this point before...I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Yes, consumers evaluate goods and services and pay according to their perception of the value. Its the basis of a free market system. Over time, due to events, the value can change in the eyes of an individual. Economics 101Originally posted by Kidicious
Perception and evaluation create changes in value? Are you kidding me? This is worse than that ACTUAL theory that money creates value. And I'm accused of trolling? You're confusing results with causes. As I said, it's all just smoke and mirrors.
0/10 (would have been a 1/10 if you had included an amusing and/or interesting example of "smoke and mirrors"Haven't been here for ages....Comment
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With money; the ends justify the means. How do you think stocks get the valuation they do? Also, bond rates are not based on current values but predicted futures, which can be wrong. The dollar is not based on work, but what one perceives to be the value of American work.Comment
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That doesn't create value. It only 'evaluates' it.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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evaluate: to asses; appraise; estimate.
How do you get create out of that? Magic?I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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In theory, economic agents work with perfect information. In reality, the information is far from perfect. Individuals and/or companies will evaluate with whatever information is available.Originally posted by Kidicious
evaluate: to asses; appraise; estimate.
How do you get create out of that? Magic?
I think you already now all this, but I'll waste the time to type it anyway.
Step 1: Grain is one dollar a pound. [Market price decided by what people are willing to pay for one pound of grain]
Step 2: Poor weather ruins thousands of acres of crops. Grain is more scarce. [event]
Step 3: Investors that learn of this information make decisions that change their holdings to match the anticipated consumer's behavior change [Evaluation]
Step 4: More competition for a scarce good bids the price up -- to whatever the market bears.
Is that magic? I wonder how you make your everyday decisions if this doesn't jive with your worldview.Haven't been here for ages....Comment
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The Supply/Demand economic system is a form of rationing (supply goes down, price goes up). This is fine now, but in the future, when improvements in technology causes things too be made more cheaply and causes unemployment as things become more automanted things will come to a head.Comment
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I know all that. It's very simple explaination of capitalism. Not magic. It's not even what this thread is about.Originally posted by Shogun Gunner
Is that magic? I wonder how you make your everyday decisions if this doesn't jive with your worldview.
Now you should tell me how money creates value.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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I create value by charging you interest.Originally posted by Dauphin
I'm with Flubber, how about Kid giving me an interest free loan then?
You guys better not quit your day job. Better let Adam Smith come in here perform this trick.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Money doesn't create value; people increase or decrease the value of money, assets, and services based on their needs, desires, supply/demand, and several other factors.Originally posted by Kidicious
I know all that. It's very simple explaination of capitalism. Not magic. It's not even what this thread is about.
Now you should tell me how money creates value.
The concept of "Time Value of Money" doesn't even suggest that "money creates value". Inflation, for example, changes the value of money over time. Its a reality dude, I mean kid.Haven't been here for ages....Comment
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Originally posted by Shogun Gunner
Money doesn't create value
I think I have actually changed someone's mind.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Lets get more basic.
Money (as in cash) is a unit of exchange that allows easier exchanges of things of different value. I might barter 2 chickens for an hour of your labor. But instead I give you $20 which you use to get 1 chicken and then the other $10 for other things.
Even in a kidicious society where everyone was paid the same wage, there should be a use of money as a unit of exchange. (assuming people are permitted to freely buy things and are not merely assigned commodities)
Now time value of money. . .. you work for me today and expect $100 today. Instead I tell you I will give you the $100 next week or next year or next decade. Even assuming zero inflation, there is value to having use of that money NOW as opposed to later.
In current economies this value can be reflected in the difference in the charged rate of interest on loans and the inflation rate( the real interest rate).
even if you eliminated money, I would surmise that there is a time value of work. Labor now would be worth more than an equivalent amount of labor at a distant future time
But you know all this stuff kid, you just choose to ignore it.You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto LuongoComment
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