Time Value of Money

[Kidlicious]

Originally posted by David Floyd
There IS no inherent value in goods and services! Someone has to first believe they have value for that value to exist.

People already believe that goods and services have value. They want them already. All you have to do is make them, and the value will be created.

I've already gone forward with it, and given multiple examples which you haven't bothered to address. I'm still waiting to see your response to my argument that you already said had nothing wrong with it.

Go forward from where I left off with Flip McWho if you want. You're repeating his argument.

[Kidlicious]

Originally posted by Kontiki
How do YOU define value and how do YOU quantify it?

Satisfaction gained from consuming goods and services. You quantify is as the total abount of satisfaction gained by people. You can't put a number on it though. It's basically utility.

What, for example, is the inherent value of an hour of work? Or an apple?

An hour of work can be worth nothing (wasted time or materials) or it can be worth a great deal (finding water when you are dying of dehydration).

[Kontiki]

So you're admitting that there is no inherent value in anything, only that which we find useful. Following your utility definition, the same thing eventually becomes less valuable the more you have of it or do it due to declining marginal utility, correct?

By the way, how do you reconcile these two statements that you made:

People already believe that goods and services have value. They want them already. All you have to do is make them, and the value will be created.

and

An hour of work can be worth nothing (wasted time or materials)

[David Floyd]

People already believe that goods and services have value. They want them already. All you have to do is make them, and the value will be created.

Sure, value may be created for somebody, but it won't be created for everybody. I have no interest in, say, a new camera, but someone else might. In that sense, then, camera production means little to me in terms of value, while it may mean a great deal to someone else.

Value changes based on needs and perceptions, and of course the laws of supply and demand.

Your responses seem to agree with that (that is, when the responses don't contradict each other).

An hour of work can be worth nothing (wasted time or materials) or it can be worth a great deal (finding water when you are dying of dehydration).

Exactly! Digging a well in my backyard would be valueless, whereas digging one when I'm dying of thirst in the desert would be of great value. Either way, the labor is the same - in one situation it is valuable, in the other, it isn't.

Satisfaction gained from consuming goods and services.

If that's how you quantify value, then you have to admit that value is relative, because "satisfaction gained" is also relative. Different people value different goods and services.

[Kidlicious]

Anyone following along has got to be bored ****less. I know I am getting bored responding to your repeatative arguments.

[Ted Striker]

should've gone with my pancakes make you fat argument.

[Dauphin]

Originally posted by Kidicious
Anyone following along has got to be bored ****less.

[Kidlicious]

Originally posted by Ted Striker
should've gone with my pancakes make you fat argument.

I eat pancakes, and I'm not fat.

[JohnT]

Originally posted by Kidicious
Nah, Ming never locks these. DanS gets really pissed off at these threads, and always tries to stop them, but fails.

He does? The second post was actually the first time I remember DanS participating in your threads, and a quick review shows that he didn't participate in either of the Profit/Unfair Tax threads, nor the Cap. vs. Com threads between you, Skywalker, and Veloceryx (sp).

[JohnT]

Let's try a different tack, because I'm bored and have nothing else to do...

Note that the phrase is the Time Value of Money (TVM), which applies to a very real dilemma for every single one of us, and that is the problem of the Time Value of Life, easily demonstrated by the following equation:

TVL = (Eternity - 70years)

Out of the entire existence of the Universe, I get only 70 years, meaning that if you want to borrow my money, earned from my labors, for any significant portion of my very precious time on this celestial plane, you are going to have to make it worth my while.

Capice?

[Ted Striker]

Originally posted by Kidicious


I eat pancakes, and I'm not fat.

Yes but you are a Commie.

Which most likely means due to your inefficent economic scheme, you have one meal per day, at best.

[Flip McWho]

Anyone following along has got to be bored ****less. I know I am getting bored responding to your repeatative arguments.

Dude, the arguments are repeatitive because you refuse to acknowledge the point. The only real way to refute your claim is through the arguments we have presented. Hence the repeatition.

[Solomwi]

Originally posted by JohnT
Let's try a different tack, because I'm bored and have nothing else to do...

Note that the phrase is the Time Value of Money (TVM), which applies to a very real dilemma for every single one of us, and that is the problem of the Time Value of Life, easily demonstrated by the following equation:

TVL = (Eternity - 70years)

Out of the entire existence of the Universe, I get only 70 years, meaning that if you want to borrow my money, earned from my labors, for any significant portion of my very precious time on this celestial plane, you are going to have to make it worth my while.

Capice?

That's about on the level of the situation I was considering throwing out.

I'm going to give you $1,000. Do you want it tomorrow or five years from now?

[David Floyd]

Anyone following along has got to be bored ****less. I know I am getting bored responding to your repeatative arguments.

I wasn't aware that you had really responded to any of them - rather, you ignore most of them.

Although it is rather hard to refute the absolute ****ING obvious, isn't it?

[Kidlicious]

Originally posted by Ted Striker


Yes but you are a Commie.

Which most likely means due to your inefficent economic scheme, you have one meal per day, at best.

Only because I haven't exploited poor little boys in Indonesia who dig through trash for a meager living.