Topics Value

Question According to value theory, does manufacturing an object (e.g. a bicycle) always result in more value than performing a service (e.g. giving a haircut) since the object can be used again and again, can be resold, and cannot be destroyed (by law of conservation of mass). Or is this question out of the domain of value theory and limited to philosophy of economics?

Accepted:
July 3, 2013

Comments

Manufacturing adds value by configuring materials in certain ways; and this value can be lost even if the object's mass is preserved. Thus, destruction of the bicycle cancels the value of manufacturing it, even if the metal and other materials survive the destruction. Conversely, a service can continue producing value for a very long time: a medical treatment administered today can add decades to a person's life, and good education can convey knowledge, wisdom or a skill which can be useful for the student's lifetime and beyond (if she passes it on to others). So the reasons you consider do not show that manufacturing something is always more valuable than performing a service.