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Author Topic: The intrinsic fallacy  (Read 100 times)
Hell-raiser
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February 08, 2018, 01:13:29 PM
 #21

There you get a paradox: air and water.
You can imply it has always some value, so that value is intrinsic. But water and air are vital, and here comes the paradox: water and air aren't charged anywhere.
Yes, they are free, practically everywhere. What is charged is the service of treat and bring water to your tap or bottle it, not the content. It would be highly immoral to charge for water because those unable to pay it would simply die.

So paradoxically what holds more value, vital value, can't be charged at all.

The same can be said in regard to anything, not just water or air. There is no paradox in it. We use resources which are given free to us by Mother Nature. Strictly speaking, you don't pay for the services required for a bottle of water to be delivered to your table as such. You pay what market decides these services are worth at any given moment, irrespective of what it actually took to produce a bottle of water. In other words, you pay their market price. A hint: if you chose to follow the subjective theory of value, follow it to the full and don't mix it with the labor theory.
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February 08, 2018, 01:15:05 PM
 #22

On utility basis, silver would be way more valuable than gold. Gold is just used for plate (with a tiny micron think layer) exposed contacts, due to its oxide-resistant properties whereas silver is the best conductive bare metal known.
Due to its value, gold jewelry is on a nose dive for quite a while now. Too risky to carry around such value on display.
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February 08, 2018, 01:18:20 PM
 #23

You pay what market decides these services are actually worth at any given moment.

Reason why its value isn't the same everywhere. The labor theory is still under the relativity of value umbrella.
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