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To: Willie Green
Services that have value result in a transferrence of wealth.
However they do not ADD value, hence, they do not create wealth.

So the silversmith engraver that takes your $500.00 revolver, carves on it and charges you 300.00 for services which then makes the gun worth 1000.00 doesn't add wealth ??

75 posted on 07/30/2002 4:11:13 PM PDT by Centurion2000
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To: Centurion2000
So the silversmith engraver that takes your $500.00 revolver, carves on it and charges you 300.00 for services which then makes the gun worth 1000.00 doesn't add wealth ??

Engraving raw material (the revolver) transforms the material to a different state that has higher value in the market.
It is an example of a value-added activity that creates wealth.
(note: it doesn't "add wealth", it "creates wealth" by adding value.)
It is not a service.

81 posted on 07/30/2002 6:17:09 PM PDT by Willie Green
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