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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: kodiak_bull who wrote (22563)	12/6/2004 8:38:40 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 23153

You are looking at "Time" in a very abstract and static fashion. I am discussing it as a dynamic and personalized item. In your example the speculator spends another 8 hours for the same results, so he has wasted his time just like a worker who screws and unscrews the same fastener. If on the other hand he spends his time to discover another patch of suitable land, he has indeed doubled his money by spending twice as much time. Your examples do not show the right results by design. >> What did you mean exactly when you said the only source of wealth is our time, then? That it is real people who create wealth and not some natural resource or abstract concept. Of the traditional categories of economic resources, only labor matters in the long run. And people have really nothing to offer but their time. Yes, that time takes the shape of service, trade, management skills, sweat and elbow power to build things, etc. But in the end, the only thing people have to offer is a piece of their life, i.e. time. BTW, back in high school my economics teacher described the 4 economic resources as Land, Capital, Labor, and Technology (i.e the know-how). I find it ironic that you are presenting a fairly classical economic view of wealth but are advising me to pay little attention to academia.