stile writes:
What about when someone buys the rights to CE's lumber for $200, then the other neighbor buys it off that guy for $300?
Then the first guy buys it back for $400?
Then he sells it to his brother for $50?
And then a lady buys it off him for $75?
The rights of the lumber have changed hands... 5 times.
Each time the money was paid for the rights of the lumber.
No one has done any labor yet (the trees still stand).
Has the value for the rights to the lumber changed at all over this example?
I think that it increased, decreased, and then increased again?
I think that ringo is claiming that labor was initially required to give everyone enough value to make a trade or a purchase. In a depression, a guy might be willing to dig a ditch for $5.00 because he needs value in his pocket for food, etc.
If the value of a cashier shrunk from what I am getting paid to $5.00 an hour, ringo likely would cheer the rising tide in that now millions more can work, but the value would get tougher for me, since $5.00 wont buy me much of anything...trees, food, or fidgets.
Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. —RC Sproul
"A lie can travel half way around the world while the truth is putting on its shoes." —Mark Twain "
~"If that's not sufficient for you go soak your head."~Faith
"as long as chance rules, God is an anachronism."~Arthur Koestler