Are you trying to say that it was Marx who first introduced the idea that land has value, and by the same token are you saying that a value could exist in stock certificates of a defunct company?
Oh no, I am not merely trying: I am a pretty courageous guy who just goes ahead and says it.
that it was Marx who first introduced the idea that land has value, Did you miss the word "intrinsic" in my previous post?
and by the same token are you saying that a value could exist in stock certificates of a defunct company?
Of course it does! There is market for Russian bonds from 1900 that communists refused to honor back in... 1917. They are still traded in the belief that some future Russian government will honor the claims.
Value is exists ONLY in the heads of economic agents. This is called the agent's utility function. Open a book on economics. I really mean A book. You are musing on subtleties while misunderstanding the basics.
There is no intrinsic value in a house or land or anything else.