Wordsmith.org: the magic of words

Wordsmith Talk

About Us | What's New | Search | Site Map | Contact Us  

Previous Thread
Next Thread
Print Thread
Page 2 of 2 1 2
Joined: Nov 2000
Posts: 3,146
Carpal Tunnel
Offline
Carpal Tunnel
Joined: Nov 2000
Posts: 3,146
Elementary economic theory states that value is determined by rarity.

Well, not precisely. Value is determined by the amount of demand for the quantity available. Pure economic theory has it that value will be driven up by an excess of demand over supply. Therefore, anthrax-riddled sheep can be as rare as you like, but the value would still be zero (or negative) because the demand would be 0 (or negative).

In reality of course, scarcity is only one determinant of value.






The idiot also known as Capfka ...
Joined: Mar 2000
Posts: 1,027
old hand
Offline
old hand
Joined: Mar 2000
Posts: 1,027
..anthrax-riddled sheep can be as rare as you like, but the value would still be zero

ok, point taken. I should have put "very much influenced" instead of "determined".
Now, if I were the leader of a "rogue nation", and knew that your sheep were the only remaining reservoir of anthrax...


Joined: Aug 2000
Posts: 3,409
M
Carpal Tunnel
Offline
Carpal Tunnel
M
Joined: Aug 2000
Posts: 3,409
Now, if I were the leader of a "rogue nation", and knew that your sheep were the only remaining reservoir of anthrax...

By "rogue nation" do you mean "any member of the EU"? Anthrax is about the only disease that European or US media have not accused NZ sheep of having recently.


Joined: Nov 2000
Posts: 3,146
Carpal Tunnel
Offline
Carpal Tunnel
Joined: Nov 2000
Posts: 3,146
Anthrax is about the only disease that European or US media have not accused NZ sheep of having recently.

Then let's just hope that no one working in Brussels reads this thread ...



The idiot also known as Capfka ...
Page 2 of 2 1 2

Moderated by  Jackie 

Link Copied to Clipboard
Forum Statistics
Forums16
Topics13,912
Posts229,283
Members9,179
Most Online3,341
Dec 9th, 2011
Newest Members
TRIALNERRA, befuddledmind, KILL_YOUR_SUV, Heather_Turey, Standy
9,179 Registered Users
Who's Online Now
0 members (), 302 guests, and 2 robots.
Key: Admin, Global Mod, Mod
Top Posters(30 Days)
Top Posters
wwh 13,858
Faldage 13,803
Jackie 11,613
tsuwm 10,542
wofahulicodoc 10,510
LukeJavan8 9,916
AnnaStrophic 6,511
Wordwind 6,296
of troy 5,400
Disclaimer: Wordsmith.org is not responsible for views expressed on this site. Use of this forum is at your own risk and liability - you agree to hold Wordsmith.org and its associates harmless as a condition of using it.

Home | Today's Word | Yesterday's Word | Subscribe | FAQ | Archives | Search | Feedback
Wordsmith Talk | Wordsmith Chat

© 1994-2024 Wordsmith

Powered by UBB.threads™ PHP Forum Software 7.7.5