MONEY, WORK & VALUE

[DYOR+BTC]

Value attracts value . That’s why in a space where a particular skill is saturated  there are still folks that will still make good morning with that same skill . For instance you found two graphic designers one has been In the graphic design industry for a while , and the other who took his time to learn and master the graph Skill fully to the point of creating his own unique style of design. And there’s a company looking for a good graphic designer , who do you thing they will go for , they will literally for the best . The one that has completely mastered it and can help them make their brand more visible. In such scenario they won’t bother to know how long the other folk has spent in the industry of graphic designing .

Experience at times is the only solution to most problems,  at some point the real value of one will be identified especially if the person in question has the desired skill required by any organisation.  Just as mentioned,  if two skilled personnels are pushing to secure a job the most equipped among them will be the person to get the job and not the one with excuses, therefore we need not to joke with the opportunity we have because time I know waits for no one.
With the way things are, it should have been known before now that skills are very important and must not be taken foe granted if that opportunity comes.

[tbterryboy]

Scarcity cannot beat usefulness alone, scarcity has to be combined with usefulness to actually beat usefulness. For example, something that isn't scarce but useful will obviously have less value than something that is scarce and useful. However, something that is scarce but useless wouldn't have more value than something that is useful but isn't scarce. I hope you understand what I'm trying to say.

Let's take the example of Bitcoin and any other altcoin. We know that Bitcoin has a limited supply, which means it's scarce, and with being scarce, it is also useful because it is decentralized, it can be used to manage your assets without any third-party, you can make easy cross-border transactions with it, and it also grows in value over time. For this reason, it is very valuable. However, if an altcoin also has a limited supply, maybe even lower than Bitcoin, but it wouldn't have the same functions as Bitcoin, would it be able to gain the same value as Bitcoin in the world? No, because it isn't as useful as Bitcoin.

This is why, even though everything you said is correct, but scarcity can only beat usefulness if there is usefulness involved as well.

[Iroh]

I think scarcity has more or less, always been the measure of the value of goods and services. The more scarce something is, the more valuable and badly wanted it becomes. Yeah, it can be said that time is the real currency in this life. Seeing as time is continuously ticking forward and with seemingly no way to get some of it back, it is extremely valuable. Hence the obvious need to make every second count by doing something you love(positive and cool things!) or being productive for yourself and your family.

As scarcity determines the value of goods and services, it's only logical that jobs that requires some certain skills, skills that aren't had by just anybody, would pay much better than someone who works the cash register at a store. Today, even with an education, it has never been any clearer on the need to acquire some relevant skills if you want to stand out and get noticed.

[Sandra_hakeem]

TL;dr

I suspect that this is a retelling of some kind of parable, movie, or something called a motivational speech.

I suspect the same too. One of the reasons why I didn't even bother to read.

Op spent more time talking in circles and obfuscating the real point of discussion. Definitely made serious readers lose interest on the thread, hence the few replies (excluding the follow-for-follow)

There will always be a choice. Anyone can do the physical work; it's enough to show them once or twice. But to create something, you need talent, education, and, yes, a lack of laziness. You're right about that. Don't waste time, instead create yourself so you become in demand.

I want to add that sometimes, it's not even the laziness. In most third-world countries, as an adult for instance, you can't channel all your energy into being creative in a certain type of way unless, you already have something that produces money for fundings on said career and your daily expenses. Most people have their hands tied to their jobs for the aforementioned reasons and they die with their natural talent.

[EluguHcman]

Let's just imagine you find yourself in a desert, and you have been there for three days without water, And we All know how scorcher the dersert is. And then someone walk up to you holding a cold bottle of water in one hand and a flawless, million dollar diamond on the other hand, which one will you grab?

Someone will just think about this question and look at it to be stupid but I know it is a very sensitive question to know the mind of people on how they values their lives and their interests on making riches.
I won't really blame anyones opinion because for some personal reasons anyone can be making senses from the individuals perspectives.

But if I must say, water is life and it being the substance that will sustain your life in such tight and tough corners like that as your lungs may have been dried with your body system feeling dehydrated, taking water will regain your energy of recovery but if you goes for the money, then you must still need to ask for water if it is possible so that you can revive yourself. Meaning water will always be an option for human consumptions and desires than any other think.

Not just the slaves needs the water but even those who are privileged to freedom in the society.
Life(water) before riches(money).
Water will always be essential to other resources.

[Hamza2424]

Once you see the world this way, everything changes and you will stop asking, "how do I work harder? And start asking, what rare skills can I learn that solves a big problem for a lot of people?" Because in life, your time is the real currency you are born with and the smartest thing you can do is to make sure you don't trade it for a cheap price...

Hmm, bro, you can't just tell the difference in salaries among a coder, a footballer, and a laborer!

I believe that besides scarcity, leverage is also needed, like the rarity or impact of the job. For example, a coder's program will serve millions, and a footballer's match is watched by millions at once, so that multiplier has increased their salaries. Scarcity can't just set the floor here.

But I will also ask you a question that, by the way, is against my point of view, but I want to know what you have to say about it.

The question is, if rarity or impact of the job has anything to do with it, then didn't that laborer who lifted blocks also build the stadiums, software houses, houses, or something that directly contributed to the multiplier that the coder or footballer is getting?

[Opiate32]

I do not think that the market rewards people according to how important their work is. Take for example gamers, teachers and healthcare workers, they all provide services that the society can not do without, still yet many of them earn little. Their work isn’t less valuable, sometimes they just have less bargaining power and operate in a system that doesn’t reward their contribution fairly.
We should have this in mind that the market only determines what people are paid but that doesn’t always determine what their work is worth.

[Royal Cap]

This is actually a very long post and I read it. So here I want to say a little bit that this is actually a little basic human psychology. For example, if you live alone on an island and you are given a billion dollars, your billion dollars are worthless there. The reason is that you cannot exchange it for anything. Then it is a lot like paper.  Similarly, humans create the value of a thing. As you said in your example, diamond. It has no value of its own. Humans have created its value because it is limited. On the other hand, water, which we usually use, we see as unlimited, So we do not consider it valuable.

But here I want to say another thing that, for example, a child of a rich family, eating in a five star restaurant is a normal thing for him, just like a child of a poor family eating in a big five star restaurant is a dream for him.

[Topitar88]

This is actually a very long post and I read it. So here I want to say a little bit that this is actually a little basic human psychology. For example, if you live alone on an island and you are given a billion dollars, your billion dollars are worthless there. The reason is that you cannot exchange it for anything. Then it is a lot like paper.  Similarly, humans create the value of a thing. As you said in your example, diamond. It has no value of its own. Humans have created its value because it is limited. On the other hand, water, which we usually use, we see as unlimited, So we do not consider it valuable.

But here I want to say another thing that, for example, a child of a rich family, eating in a five star restaurant is a normal thing for him, just like a child of a poor family eating in a big five star restaurant is a dream for him.

Your final example also demonstrates personal value vs market value. while those who can afford to dine at a 5 star restaurant on a regular basis will not place too much personal value on the experience, those from a poor background may see it as a very special experience. This shows that personal value isn’t always based on scarcity. Your background and ability to obtain something can affect how much personal value you place on it.