Why was salt so valuable that it was once used as money. Salt was valuable for many reasons. Salt had different values to different people. So valuable, that it was used a money for centuries. Salt had a various amount of uses and properties that made it so valuable to be used as a currency for over 5 Countries (TIME). “Salt is one of the most useful items in this world today and we would be in terror without it.” (Salt-An Amazing History).
Commodities have changed the cultures of many nations for good all across the world. Silver and spices both impacted the economics and culture of certain areas and nations. Production, distribution, and consumption of silver and spices differed in some areas, but overlapped in others, depending on where the commodity was found and what it was used for.
In the Ming Dynasty, a report to the emperor regarded that the silver coin had no value to some people. Elders felt that the coin was “scarce”. Therefore, that was why grain was so cheap. Elders explained that “grain is cheap despite poor harvests...due entirely to the scarcity of silver coin. The government...disburses little silver in its expenditures.” Nobody was able to purchase the grain because nobody had any silver to purchase it with. In this case, the Ming Dynasty did not benefit from silver. (Document
The cost of Marijuana, alone with anything else you will buy in today society, will vary depending on the time of year, place, quality and quantity of the Marijuana you are getting.
If there is one thing that no one argues about is the cost of healthcare. Despite many policies healthcare in the USA has become an expensive commodity. It is the single most important cause of bankruptcy. For years, the US government has been trying to lower the costs. One of the ways is to let private sector take over the industry. There is always talk that the private sector is more efficient and effective compared to the government. But is private sector cheaper than the government? In the past 4 decades, the private sector in healthcare has become one of the most profitable players in healthcare. The majority of private sector is for profit and certainly it is not in their interest to have low cost medicine. Even though they all write
There are many ways of paying healthcare providers, physicians, and hospitals. Fee for service, discounted fee for service, capitation, and salary are a few examples of healthcare provider payments. “The traditional way, used both by private health insurers and by government (Medicare and Medicaid programs) is called fee for service” (Hagland, 2015, p.1). Fee for service pays providers according to what procedures are used to treat a patient. Capitation pays providers a set amount for each patient they see. Both healthcare provider payments are extensively used in the United States healthcare system, but fee for service has been in decline over the past decade.
Torture can also help during the ticking time bomb scenario because the pain of one single person out ways the deaths of hundreds and possibly even thousands. Instead of murder, torture is often agreed upon more, which the author of the article “Torture is just a means of Preventing Terrorism” explains when they state:
Price gouging refers to the practice of raising the price of goods, services, or commodities to an unfair or unreasonable level. Price gouging is often the result of a sudden increase in demand and a shortage of the desired goods often in time of a pending natural disaster or other crisis. Price gouging is seen as an ethical issue as it takes advantage of others misfortunes and bad situations by raising the price for necessary goods and services to unjust levels; to prevent price gouging from occurring thirty-four states have passed laws against it and one faces criminal charges plus civil liabilities if it is discovered that they have engaged in the act . However, some economist and opposers of price gouging laws argue that if consumers are willing and able to pay the set price for a good or service than the business should not be held responsible.
He stated that all useful goods such as water, food and clothing are very significant; “But since gold and silver, being little useful to the life of man in proportion to food, raiment, and carriage, has its value only from the consent of men…” (50). Land owners grow food, fruits, etc. I wouldn’t call it an advantage as in selling it to others since it can be seen as a trade. It can be seen as survival mode. Locke states that at the beginning of the world (America), money was not known and as time has passed, men have begin to enlarge their possessions. The more they obtain the more they’ll leave
What is one thing I value most in life.?Something I value very much is the season of Fall. All of the leaves on the trees turning colors, the crunching sounds as you walk over the fallen ones against the sidewalks are one of my favorite things. The beautiful colors of the leaves draw my attention as they dance down from their branches. Every leaf soon will fall, showing signs of winter.
In personal finance, net worth is the value of all your assets. An asset includes savings, home, and everything that you own and it has value. Moreover, the best way to measure and track the health of your finances is by doing it periodically. According to Siegel & Yatch (2009) your net worth is the difference between your assets minus your liabilities. But, what are your liabilities? Your liabilities are your debts or any financial obligation you have like your mortgage, school loan, and car loans. Hence, in most cases, your net worth will be positive. This means that the value of your asset is greater than the total amount you owe. However, if you owe more than you own, you will have a negative net worth. Meaning that a negative net worth is not bad, it only means that you haven’t earned enough money to overcome the weight of your debts.
The currency has evolved over the time of man. The sense of value created the act of buying goods rather than trading for them. Earth's rarest gems and elements became a common currency throughout the world. Gold was a particularly famous currency in the United States. The event of the gold rush sent Americans out west to attempt to find gold. The United States had already created its national form of currency known as the US dollar. Americans saw great fortunate selling gold for dollars. This event made some Americans wealthy. There are many factors that affect the distribution of wealth in the United States. The time of events and history affect the distribution of wealth in the United States.
i. Romans: Romans considered “common salt” a right and used it for cooking in both plebian and patrician cuisine. Salt trade was a prominent way of making money and soldiers were often paid in salt. A tightly controlled monopoly on salt contributed to military funds.
You may be thinking, what is a commodity Future? Well, a commodity future is basically when a company sets a certain price for something on a certain date. It’s like, originally honey is at 5 dollars, but the company that had produced it plan to up the price of honey within a year of production, to gain more money. A commodity future is basically, the change of a certain price on a certain date. Though, let’s dig deeper about this commodity future to better understand this.
Classical Political Economic theory can be traced back to the late seventeenth century, when demand for commodity production was rapidly increasing. Following 1670, Sir William Perry came close to defining the “exchange value of a commodity by the amount of labour needed to produce it.” Richard Cantillon went beyond this by separating the intrinsic value of a commodity, being the labour and land needed to produce it from its market price. This resulted in the foundation for Adam Smith’s Wealth of Nations where he developed three distinct methods for determining a commodity’s true value. The First, reflected Petty’s