the source of wealth is the value the market places on the end result of labor and not the labor itself.
Only in a market economy, Skull.
if it were the labor itself then we could all just dig ditches and fill them up again and we would all be rich. 300 people working 40 hours a week to produce something no one wants is not producing wealth.
Hmmm...
good point.
I need to be clearer when I say that
labor is the producer of all wealth. That isn't true.
Obviously, I should have pointed out that productive labor
which creates what people need or want is the source of all wealth.
I hadn't really thought about the
true implications of the word
"wealth".
Wealth is a relative term. Wealth implies that SOMEBODY will want something that you have, doesn't it?
YOu can want it, which makes it wealth, or somebody else can want it, which also makes it wealth, but it's the WANTING that gives it value.
Wealth might be something that you have because you want what you have, but generally speaking in the REAL WORLD APPLICATION of the word,
wealth is having what SOMEBODY will want.
Excellent point, Skull.
All wealth, ultimately required HUMAN DESIRE for a things intrinsic value first.
Then the creation of that thing inevitably requires work to harvest or produce it, before it can truly be called wealth.
I will attempt to be be careful about using that term in the future.
Nevertheless, all things which we think of as WEALTH
require human to harvest or produce them.
The
intrinsic value of an apple on tree requires human desire for the apple, AND human work to harvest it, too.
If one hopes that the apple will become something greater than the sum total of its intrinsic value to the YOU, (the wealth you perceive in it) it requires a market where others percieve it's intinsic value to THEM, too.
Have I missed anything?