Sunday, September 01, 2013

Use-Value Production.

There are three types of production for use-value. The first one is production for a more useful form. The second is production for the place more preferred or more valued. And finally there is production that is made available at a more desirable time. Capital and especially the combination of capital and storage make time production feasible. Producers’ goods are examples of time use-value.

Due to the equilibrating power of arbitrage the economy operates and is characterized by the tendency towards the principle of uniformity-of-profit. This is what keeps in proper balance the production of all types, and of all of the different items that are directly or indirectly necessary for our survival.

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