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To: Willie Green
Services do not add value, they do not create wealth.

What is value? What is wealth? The answer is simple. You are wealthy when you have something that others want. By distributing and disseminating knoweldge you can create value. Manufactured are just as subject to the laws of supply and demand as intellectual property, and have no more intrinsic value, though their value may be less volatile.

92 posted on 07/30/2002 8:29:54 PM PDT by andy_card
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To: andy_card
What is value? What is wealth? The answer is simple.

Yes, the answers are simple.

VALUE: Quite simply, this is the amount of consumer satisfaction directly or indirectly obtained from a good. service, or resource. The more a good satisfies a person's want or need, then the more valuable it is to that person. Furthermore, different people are likely to place different values on a good. Resources are valuable to the degree that they are used to produce stuff that consumers want. The bottom line is that value, like beauty, is truly in the eye of the beholder.

WEALTH: The net ownership of material possessions and productive resources. In other words, the difference between physical and financial assets that you own and the liabilities that you owe. Wealth includes all of the tangible consumer stuff that you possess, like cars, houses, clothes, jewelry, etc.; any financial assets, like stocks, bonds, bank accounts, that you lay claim to; and your ownership of resources, including labor, capital, and natural resources. Of course, you must deduct any debts you owe.

By distributing and disseminating knoweldge you can create value.

Well I agree that "information" can be distributed and disseminated, but not knowledge. In any event, while information may alter value perception in the marketplace, it does not "add value" to the product. It does not create wealth.

93 posted on 07/30/2002 8:48:52 PM PDT by Willie Green
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