K Watt
Well-Known Member
No, that is technically not correct. Value is created when a product is manufactured or a service is provided. Value is created when somebody collects your trash and carries it away. Obviously, for any group of people to survive, they must produce more than just one thing; they can't all be trash collectors. Anyway, things of all the ways that money is earned, not by creating value, but by preserving them or replacing them. Security companies. Insurance. Doctors. None of these create any value is a strict, narrow sense, they only preserve or replace what was already there. And yet the service they provide is considered valuable.
I agree with that to a certain extent. However, health and security have value.
Those who provide these services are creating value. The government must first confiscate the value created by others before it can transfer it. The problem is that government can confiscate the production of others and use it in any means they choose. When I pay a doctor, for example, I am exchanging my money for the value he provides. The government takes my money and I have almost no say on how they spend it.
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