>nothing got "erased" because the price a good is traded in doesn't reflect its value in capitalism.
Let's say I carve wood figures. It takes me $1 to create one and I sell it for $2. I've carved a hundred so far. Now due to a viral social media trend suddenly everyone wants one and the statues are now traded for $1000+. Does it mean I created goods worth 100x$1000 = $100,000? Of course not. So when the meme dies off and everyone realises it's just a useless wood statue, the price will fall back to $2 and the value I created would be 100x $2 = $200.
Does this mean $99,800 was "erased"? ofc not, it was never there, you just included mass psychosis into your budget calculations... which you shouldn't do. welcome to modern western gdp btw
KEK.
Let's say I carve wood figures. It takes me $1 to create one and I sell it for $2. I've carved a hundred so far. Now due to a viral social media trend suddenly everyone wants one and the statues are now traded for $1000+. Does it mean I created goods worth 100x$1000 = $100,000? Of course not. So when the meme dies off and everyone realises it's just a useless wood statue, the price will fall back to $2 and the value I created would be 100x $2 = $200.
Does this mean $99,800 was "erased"? ofc not, it was never there, you just included mass psychosis into your budget calculations... which you shouldn't do. welcome to modern western gdp btw
KEK.
