Originally Posted by
mparker762
On the contrary, sir. Yours is a common economic misconception. All that you say is well and good, but misses the fundamental microeconomic point. The effort that the maker puts into the product - the labor, the skill, the quality of the materials - none of this directly determines its value in the marketplace...
But there is nonetheless only a very imperfect match between the labor, skill, and material that goes into a product, and the value attached to that product...
While this may be an uncomfortable thing for a proud craftsman to think about, it is nonetheless a fact. It is possible that the two cannot agree on a common valuation, and the craftsman gets to admire his work sitting on his mantlepiece, and comfort himself that it is at least being appreciated properly by someone who truly understands it. But that doesn't pay the bills, nor does it mean that his valuation is the "correct" one, merely that he values his pride more than paying the bills.