tag:blogger.com,1999:blog-5061889834421679008.post7189647078553813866..comments2014-02-28T10:51:55.737+00:00Comments on Injin's Alternative Universe: Gold Is Money?Injinhttp://www.blogger.com/profile/17344218283179690569noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-5061889834421679008.post-64889778085020825162009-08-19T20:26:35.263+01:002009-08-19T20:26:35.263+01:00"If the goods are sold at less than productio..."If the goods are sold at less than production cost, they uusually won't be made again."<br /><br />Oh rly? - try the austin mini. it was sold at below production cost for years and years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5061889834421679008.post-32951310396876204302008-09-06T21:37:00.000+01:002008-09-06T21:37:00.000+01:00That's right, if the goods are sold at more than p...That's right, if the goods are sold at more than production cost, this usually means that more of the same goods will be made in future.<BR/><BR/>If the goods are sold at less than production cost, they uusually won't be made again.Injinhttps://www.blogger.com/profile/17344218283179690569noreply@blogger.comtag:blogger.com,1999:blog-5061889834421679008.post-51316336195762810682008-09-06T20:44:00.000+01:002008-09-06T20:44:00.000+01:00Goods have been created sold (valued) at less than...Goods have been created sold (valued) at less than production cost, equal to production cost, and greater than production cost. The "value" is set by individual demand, which may be realistic or not.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5061889834421679008.post-73149847304798285592008-09-06T01:07:00.000+01:002008-09-06T01:07:00.000+01:00Objective value and subjective value is a fine top...Objective value and subjective value is a fine topic for a blog all on it's own. <BR/><BR/>I'll have a think and review what I know and do one about it tomorrow, Roark. <BR/><BR/>Thanks for the positive comment. :)Injinhttps://www.blogger.com/profile/17344218283179690569noreply@blogger.comtag:blogger.com,1999:blog-5061889834421679008.post-25358904051671707432008-09-05T22:47:00.000+01:002008-09-05T22:47:00.000+01:00Yes, gold does have an objective value. It is equa...Yes, gold does have an objective value. It is equal to or nearly equal to the labor required to find it, extract it, smelt it, mint it, transport it and trade it. Correct me if I am wrong. I apprerciate this blog. Roark.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5061889834421679008.post-68354142097934162062008-08-20T15:29:00.000+01:002008-08-20T15:29:00.000+01:00Yep. I'm just saying that gold ain't all that. "No...Yep. <BR/><BR/>I'm just saying that gold ain't all that. <BR/><BR/>"Not that you can't trade a bubble or that people's individual valuations aren't valid. All I am pointing out is that gold doesn't have the objective value that some would like it to have. All values are subjective, in fact."Injinhttps://www.blogger.com/profile/17344218283179690569noreply@blogger.comtag:blogger.com,1999:blog-5061889834421679008.post-46839927990493970622008-08-20T10:56:00.000+01:002008-08-20T10:56:00.000+01:00Money is anything that is freely traded. Washing m...Money is anything that is freely traded. Washing machines are money... if gold is freely traded it is money.Anonymousnoreply@blogger.com