We need a better tool than that old, easily-manipulated “stock market” to track value. Value needs to become real again, not always inflated, because “shareholders”.
But who mines the materials? Natural resources are given to the oil and gas industries. The gasoline and fuels displace the value of human work by technological means, but the machines still need people to run them. The machines were built by workers. Without people doing stuff the oil and minerals just stay in the ground.
You can argue that oil and gas mineral industry mines the resources, but those resources, and the work it takes to extract them, is incredibly valuable to society. So who owns them, and why, becomes a political question.
We need a better tool than that old, easily-manipulated “stock market” to track value. Value needs to become real again, not always inflated, because “shareholders”.
It’s not a tool to track value, it is gambling for rich folks
Umm yes gambling kind of. But not as a regular customer. They are the house, and the house always wins long term.
Value is a mechanism that hides what actually creates value: human labor power
Energy & material extraction also create value.
But who mines the materials? Natural resources are given to the oil and gas industries. The gasoline and fuels displace the value of human work by technological means, but the machines still need people to run them. The machines were built by workers. Without people doing stuff the oil and minerals just stay in the ground.
You can argue that oil and gas mineral industry mines the resources, but those resources, and the work it takes to extract them, is incredibly valuable to society. So who owns them, and why, becomes a political question.
Value is nothing but a store for human labor.
And shareholder interests (create money!) make the too-big-to-fail companies think only in quarter year profits, turning them evil.