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Work?
Posted by qtns2di4 on 2012-September-12 20:15:12 EDT, Wednesday
In reply to Re: Wishful thinking posted by lee lette on 2012-September-12 13:01:12 EDT, Wednesday
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You sure have never heard of a certain Eugen von Böhm-Bawerk...
Böhm-Bawerk showed that the value of goods is not derived from the quantity of labor devoted to their production. Rather it is because goods have value to potential users that it is worth applying labor for their manufacture. A pencil has value to a writer so he can scribble words on a page, and thus labor is valued if it can be utilized to make the pencil he desires. Hence, the value assigned to the laborer used in a production process is a reflection of the value of the final, finished good his work can help create. Value, ultimately, arises from the demand-side, not the supply-side, of the market. Böhm-Bawerk then reminded his readers that every production process takes time. If the period of production is of any significant length, then those who are undertaking the manufacture of the product must somehow be able to sustain themselves until the commodity is ready for sale and, they hope, earn a purchase from members of the buying public.
In other words, it takes the same amount of labor for you to record an album as it takes for Justin Bieber to record it.
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