I was having a conversation with a colleague about “value” and what the financial “industry” does that creates value. I realized that he and I didn’t agree on the origin of value. He believed that value is defined by the consumer, and that whatever someone will pay for is inherently valuable. I believe that value is defined by need Continue reading
Monthly Archives: November 2011
Creating Value – what the economy is supposed to do…
I am not an economist, nor am I a student of economic theory. I have a limited understanding of the theories of money, and as simple understanding of the principles of capital markets. But I do understand the theory of value. Value is created when humans expend effort toward the creation of a product, or towards the execution of a service. Those products and services have a cost (unit effort + material input + a share of (infrastructure + marketing)), and in a relatively unconstrained market (no such thing as a free market) the products and services have a value (how much someone will pay for it). Continue reading
The Media: What to do?
So everybody realizes that the syndication of media at a national or global level presents a challenge to the role of the media’s ability to hold our elected officials accountable. I have stated 5 issues or challenges surrounding our relationship with the media and media’s relationship with government below. But I want to start by saying what I think can be done about them.