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Re: Modernizing Henry George 3 ways

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  • John
    ... I am having problems with that one. I think you are looking at it in a purist view. The total amount of oil in the ground (which we do not know), is say x
    Message 1 of 37 , Sep 14, 2010
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      --- In LandCafe@yahoogroups.com, "roy_langston1" <roy_langston1@...> wrote:
      >
      > --- In LandCafe@yahoogroups.com, Fred Foldvary
      > ffoldvary@ wrote:
      >
      > > What about oil, which has a diminishing total supply?
      >
      > The supply of oil in the ground is fixed in the
      > economic sense: it cannot be produced by labor and
      > does not respond to price. 

      I am having problems with that one. I think you are looking at it in a purist view.  The total amount of oil in the ground (which we do not know), is say x barrels.  

      The economic sense. That is worth what?  At any point in time, the price can go up or down depending how much is extracted from the ground (supply) or by demand.

      It does take labour to extract oil and labour to transport it. 

    • Harry Pollard
      There is a strong difference, Fred, between goods that demand throughput, and goods that increase in value when they are not sold. Although I ve heard of
      Message 37 of 37 , Oct 19, 2010
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        There is a strong difference, Fred, between goods that demand throughput, and goods that increase in value when they are not sold.

         

        Although I’ve heard of tankers slowing down so a later delivery can find a higher price, essentially oil moves through the pipelines to enjoy profitability, whereas holding land from use may be the most profitable course.

         

        Harry

         

        ********************************

        Henry George School of Los Angeles

        Box 655

        Tujunga  CA  9104

        818 352-4141

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        From: LandCafe@yahoogroups.com [mailto:LandCafe@yahoogroups.com] On Behalf Of Fred Foldvary
        Sent: Monday, September 13, 2010 8:22 AM
        To: LandCafe@yahoogroups.com
        Subject: Re: [LandCafe] Re: Modernizing Henry George 3 ways

         

         

        From: mattbieker <agrarian.justice@...>

        > The main reason for comparison between the land market and the collectibles market, it seems to me, is that both are markets for things which are have fixed supply. <

        What about oil, which has a diminishing total supply?

        FredF

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