Comment by mjburgess
6 days ago
Granting your premise, i'd be forced to argue that economic value (as such) doesn't arise from their activity either -- which i think is a reasonable position.
Ie., The reason a cookie is 1 USD is never because some "merely legal entity" had a fictional (/merely legal) desire for cookies for some reason.
Instead, from this pov, it's that the workers each have their desire for something; the customers; the owners; and so on. That it all bottoms out in people doing things for other people -- that legal fictions are just dispensble ways of talking about arragnemnts of people.
Incidentally, I think this is an open question. Maybe groups of people have unique desires, unique kinds of lives, a unique time limitation etc. that means a group of people really can give rise to different kinds of economic transactions and different economic values.
Consider a state: it issues debt. But why does that have value? Because we expect the population of a state to be stable or grow, and so this debt, in the future has people who can honour it. Their time is being promised today. Could a state issue debt if this wasnt true? I dont think so. I think in the end, some people have to be around to exchange their time for this debt; if none are, or none want to, the debt has no value
You can factor humans out with the same trick: All economic activity is driven by the needs of micro-organisms. We mainly observe these desires and economic transactions through their conglomeration into joint entities (ie, humans).
Corporate and state decision making is, I would argue, often completely distinct from the desires and needs of the individuals that make up the entity. As an example, no individual /needs/ a particular compliance check to pass, but the overall entity (corporation) does, and so allocates money and human effort to ensure the check passes. It's a need of the conglomerate entity, not the individuals within it.
There is no "trick", the relevant sufficient and necessary properties for an agent to give rise to economic transactions are likewise not possessed by a micro-organism.
Microorganism A is good at producing (say) insulin, but needs oxygen to do it. Microorganism B is good at ferrying oxygen around. Microorganism C is good at extracting oxygen from the air and attaching it to B.
Each of these cells has specialized tasks which they perform as part of the contract of getting to survive longer in the superorganism. Each has 'promises' (functions) to fulfill, and other organisms provide for their needs. The contract is set up on evolutionary timescales, rather than human timescales, but your requirements are met...
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