What is the dollar value of...

[KrazyHorse]

That's because he's an emotionally balanced, mature, productive member of society and you are a flaming idiot.

[Solomwi]

Observation: at one point in time it would have been almost equally inconceivable to treat land (particularly that historically owned by a family line) as a fungible asset.

(People who actually know stuff about history are free to correct me on this point.)

I don't know if inconceivable is quite right, but the historic existence of the fee tail estate suggests you're on the right track.

[curtis290]

Observation: at one point in time it would have been almost equally inconceivable to treat land (particularly that historically owned by a family line) as a fungible asset.

(People who actually know stuff about history are free to correct me on this point.)

100% Correct. The commodification of land is a relatively recent phenomenon (a few centuries ago), one that tore apart the traditional fabric of society and laid the basis for the capitalist economy and the labor market (since there was no longer common land that people could raise livestock on or grow crops and survive, so they were forced to go to cities for work). At the time it was vehemently opposed by the general populace and the church, and of course was highly artificial.

The same would go for labor; in fact, the labor market was created in England in 1834 with the Speenhamland law. And previously, money also was not treated as a commodity that could be bought and sold (currency exchange, gold standard, etc.). That's recent too.

What is the value of a dollar?

Only what we think it has. Other than that, it has a little bit of value as a source of fuel, and many bills can form a pillow.

[C0ckney]

the labour market was created in 1834 by the speenhamland system. i've heard it all now

by the way, the speenhamland system dates from the late 18th century and mostly fell out of use after the napoleonic wars. it wasn't a national system, but a local one which was implemented in a somewhat haphazard way alongside other forms of poor relief. what you're propably thinking of is the poor law commissioners report of that year which led to the poor law amendment act.

[flash9286]

I don't know if inconceivable is quite right, but the historic existence of the fee tail estate suggests you're on the right track.

I devise Blackacre to A and the heirs of his body. Property law , a couple centuries of the common law judges inventing ways to ensure the alienability of property.

[Solomwi]

Alas, even their noble efforts in that endeavor gave us the Rule Against Perpetuities. Damn activist judges!

[curtis290]

the labour market was created in 1834 by the speenhamland system. i've heard it all now

by the way, the speenhamland system dates from the late 18th century and mostly fell out of use after the napoleonic wars. it wasn't a national system, but a local one which was implemented in a somewhat haphazard way alongside other forms of poor relief. what you're propably thinking of is the poor law commissioners report of that year which led to the poor law amendment act.

Yeah that was a typo. I meant 'the repeal of the Speenhamland laws.' That was the Poor Law Amendment Act of 1834. Before that, the unemployed received relief that amounted to what was deemed necessary to live (I forget exactly how much money that was). If an employed worker received a wage below this amount, the rest was paid for. This prevented the basic mechanism of the modern labor market. So yes, the repeal of Speenhamland meant the creation of the labor market.

[KrazyHorse]

If an employed worker received a wage below this amount, the rest was paid for. This prevented the basic mechanism of the modern labor market.

[KrazyHorse]

Hey jackass: ever heard of minimum wage? Does its existence mean that the labor market doesn't exist?

[Kuciwalker]

I hate you so much.

Was your self-worth so caught up in the idea that I would collapse in awe and realize everything I knew was wrong upon hearing the sophomoric insight of the OP?

[Solomwi]

This guy may wind up better than Pedotard after all, if he'd just keep his posts to more readable lengths.

[C0ckney]

curtis i really don't know what to say. trying apply a little critical thought to what you've written before you post maybe...

[Hauldren Collider]

Why are all almost all of Alby's posts ridiculous attempts to make it seem as though some other poster (in particular myself and Kuciwalker) are actually worse off than he is for some stupid reason a la "money can't buy happiness?"

[curtis290]

Hey jackass: ever heard of minimum wage? Does its existence mean that the labor market doesn't exist?

curtis i really don't know what to say. trying apply a little critical thought to what you've written before you post maybe...

OH MY GOD. Are you people f*cking retarded????? If you are operating a mill, and the parish pays whatever the difference is between the wage you pay your employees and 3 shillings, than what is the point of paying your workers? If you are a worker, than what is the point of working if you are guaranteed 3 shillings no matter what? Though the Speenham system wasn't implemented on a national level, it became common practice in the countryside. The result was wages were pushed down to virtually zero and pauperism became commonplace. There was no motivation to work since you were guaranteed 3 shillings, and there was no reason for an employer to pay his workers anything at all, because the parish would pay the workers 3 shillings minus whatever salary you gave them.



KH if you can't understand how this prevents the functioning of natural mechanism of the labor market, you should quit whatever job you have that may pertain to finance.

[Solomwi]

Why are all almost all of Alby's posts ridiculous attempts to make it seem as though some other poster (in particular myself and Kuciwalker) are actually worse off than he is for some stupid reason a la "money can't buy happiness?"

Because that's the time-honored way for poor people to feel better about themselves. Open revolution is second place.