Alchemists misunderstood both chemistry and economics

[nalivai@discuss.tchncs.de]

I don't think any technology can be successfuly kept secret in the long term

[humanperson@sh.itjust.works]

Not if you're the only one who knows and can create artificial scarcity.

[bokherif@lemmy.world]

Why? They make diamonds in the lab.

[mothmandelorian@lemmy.world]

Supply and demand, if you increase supply the price drops.

[nomecks@lemmy.wtf]

*DeBeers has entered the chat*

[mothmandelorian@lemmy.world]

That only works if value is solely determined through labor and it is not. Scarcity creates value through demand without added labor. Sone things are valuable with no labor involved. The labor theory of value is incredibly flawed.

[bokherif@lemmy.world]

The example I gave you is the exact opposite of what you’re saying

[mothmandelorian@lemmy.world]

No, it isn’t. The price of diamonds is declining as well. it’s supply and demand.

[agamemnonymous@sh.itjust.works]

Really depends on how you define "magical". It was also very much legitimate proto-chemistry.

[gazter@aussie.zone]

Yeah, control the means of production!

[triasha@lemmy.world]

Secret knowledge was a lot more realistic back then.

If you were the ONLY person that knows how to turn base metals into gold, you can still be rich beyond all reason.