The value increased because people suspect sales would be made of products so the value increased with ZERO input from the workers.
No prediction is absolute, and neither is any investment.
However, suppose inputs may be purchased at market for prices that are broadly stable, suppose a process is available for workers to create the products from such inputs, suppose the process is not in conflict with natural and legal constraints on the labor market, suppose the total wages required to pay to workers for each product is known, to reasonable precision, and suppose a consumer demand is also known, to reasonable precision.
Then, the prediction for profitability of investment is one related to general investment, not one based on speculation.
More, the prediction may be accurate only because the labor market exists, because workers will be available to provide labor.
If workers were not available, then no one would invest in production, obviously.
Sorry but it is entirely relevant as it demonstrates the inaccuracy if your claim that labor is the only source of value.\
You have consistently misconstrued my claim.
I never asserted the value of an asset may never have a component that is speculative, only that an asset class cannot sustain a component of its value that is speculative unless it also has a component relating to intrinsic value.
Except in extreme cases, as noted, the reason assets have speculative value is because they also have intrinsic value.
Again, assets eventually crash if they have no intrinsic value, only speculative value. Such is the claim I have made, which you consistently misrepresent.
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No prediction is absolute, and neither is any investment.
However, suppose inputs may be purchased at market for prices that are broadly stable, suppose a process is available for workers to create the products from such inputs, suppose the process is not in conflict with natural and legal constraints on the labor market, suppose the total wages required to pay to workers for each product is known, to reasonable precision, and suppose a consumer demand is also known, to reasonable precision.
Then, the prediction for profitability of investment is one related to general investment, not one based on speculation.
More, the prediction may be accurate only because the labor market exists, because workers will be available to provide labor.
If workers were not available, then no one would invest in production, obviously.
You have consistently misconstrued my claim.
I never asserted the value of an asset may never have a component that is speculative, only that an asset class cannot sustain a component of its value that is speculative unless it also has a component relating to intrinsic value.
Except in extreme cases, as noted, the reason assets have speculative value is because they also have intrinsic value.
Again, assets eventually crash if they have no intrinsic value, only speculative value. Such is the claim I have made, which you consistently misrepresent.