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Originally Posted by Rob Instigator
Not a theory. My own thoughts based on 45 years of living and reading and seeing/witnessing the LIES that businessmen and the business world use to justify destroying everything for an extra dollar.
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oh.
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Originally Posted by Rob Instigator
When anything gains in perceived "value" something else loses it's perceived "value." Think of the creation of mini-cassette tapes. That business BOOMED, due to convenience, ease of use, and cheapness, compared to the 8-track cassette, which dropped in sales and perceived "value" almosty instantly.
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yeah and mini cassettes lost value too eventually.
also see: furbys (or what were they called?), dutch tulips, leeches as medicine
what is the problem?
value like you said earlier post is ephemeral. but it exists. i meant to bring this back but forgot.
i mean....value exists, but it fluctuates in time, yes, because consumer demand fluctuates as in time well as our needs and desires change
that’s the whole principle behind financial markets: to trade the risk and reward of rising and dropping economic values
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Originally Posted by Rob Instigator
a also see: furbys (or what were they called?), dutch tulips, leeches as medicine
/capitalist will argue that they CREATED wealth and value by creating a new product, but they KNOW that what they have actually done, is destroyed the "value" of a separate product by creating something better.
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that is schumpeter’s “creative destruction” yes! he wrote about it in the 40s.
schumpeter thought this was a dead end. other people differ.
the replacement to me is an increase in wealth! flash recorders replaced the minitape because they had better value! i love flash memory. so portable. you can’t put a minitape inside a smartphone. some day in the future i won’t because business enterprises will come up with an even better product. who knows what that will be?
and the thigns that we can build with it...
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Originally Posted by Rob Instigator
If "wealth" was infinitely expandable, inflation would not exist. You could literally print money endlessly and all the money would be worth the exact same, always. However, since there is only a finite amount of wealth to go around, a dollar is worth HALF now what it was worth in 1980, and printing more money just devalues the money that already exists.
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but but but... money is not wealth itself... money is a... language. a means of exchange. and a currency also has value in itself but... yes it can be destroyed.
this is why rampant inflation can be a fucking disaster. this is precisely what we’ll get with bernienomics: a flood of increasingly worthless dollars. modern monetary theory my ass!
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Originally Posted by Rob Instigator
Millionaires and billionaires try to pretend this is not true, so as to justify their largesse and their hoarding of wealth. If they truly thought wealth could be created they would not have any proble with poorer people getting their share.
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poorer people get their share! some save it and invest it, some spend it.
some invest it in themselves as education. some invest it in a hoard of their own. some blow it all in vegas. some pass it along to their families.
do you not save and invest your share of wealth?