There's a great deal of labor involved in building+preparing casks, storing them, monitoring, maintaining the temp/humidity of a space. Additionally, a good chunk of the price of aged whisky is just due to the fact that the product is constantly evaporating and you're getting a lower yield on the same initial input. Price increase != value created
You're missing the point. The difference between three-year-old and fifteen-year-old whisky is mainly due to capital costs, not labour costs. According to the LVT, capital costs are not real.
> product is constantly evaporating and you're getting a lower yield on the same initial input
This so-called 'angel's share' accounts for ~2% per year, not 10%.
> According to the LVT, capital costs are not real.
Capital costs are not real in LTV?
A carpenter takes wood, nails and hammer and creates value making tables.
Hammers are a capital cost and are made the same way - workers are a factory xreate value by assembling steel and other components making a hammer.
Steel workers un a steel mill create value by turning iron into steel.
Iron miners create wealth by mining iron.
And so on.
Capital costs are accounted for. Not turtles all the way down, but labor - newly created value comes from labor. The value in a hammer comes from the labor to make it a year ago when you bought it.
There's a great deal of labor involved in building+preparing casks, storing them, monitoring, maintaining the temp/humidity of a space. Additionally, a good chunk of the price of aged whisky is just due to the fact that the product is constantly evaporating and you're getting a lower yield on the same initial input. Price increase != value created
You're missing the point. The difference between three-year-old and fifteen-year-old whisky is mainly due to capital costs, not labour costs. According to the LVT, capital costs are not real.
> product is constantly evaporating and you're getting a lower yield on the same initial input
This so-called 'angel's share' accounts for ~2% per year, not 10%.
> According to the LVT, capital costs are not real.
Capital costs are not real in LTV?
A carpenter takes wood, nails and hammer and creates value making tables.
Hammers are a capital cost and are made the same way - workers are a factory xreate value by assembling steel and other components making a hammer.
Steel workers un a steel mill create value by turning iron into steel.
Iron miners create wealth by mining iron.
And so on.
Capital costs are accounted for. Not turtles all the way down, but labor - newly created value comes from labor. The value in a hammer comes from the labor to make it a year ago when you bought it.
Some laboror has to cask it first.
You're missing the point
I see your pooint and disagree with it.