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Norwich Market (also known as Norwich Provision Market) is an outdoor market consisting of around 200 stalls in central Norwich, England. Founded in the latter part of the 11th century to supply Norman merchants and settlers moving to the area following the Norman conquest of England, it replaced an earlier market a short distance away. It has been in operation on the present site for over 900 years.

By the 14th century, Norwich was one of the largest and most prosperous cities in England, and Norwich Market was a major trading hub. Control of, and income from, the market was ceded by the monarchy to the city of Norwich in 1341, from which time it provided a significant source of income for the local council. Freed from royal control, the market was reorganised to benefit the city as much as possible. Norwich and the surrounding region were devastated by plague and famine in the latter half of the 14th century, with the population falling by over 50%. Following the plague years, Norwich came under the control of local merchants and the economy was rebuilt. In the early 15th century, a Guildhall was built next to the market to serve as a centre for local government and law enforcement. The largest surviving mediaeval civic building in Britain outside London, it remained the seat of local government until 1938 and in use as a law court until 1985.

Skyline of Singapore's Downtown Core

The economy of Singapore is a highly developed mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as the most open in the world, the joint 4th-least corrupt, and the most pro-business. Singapore has low tax-rates and the highest per-capita GDP in the world in terms of purchasing power parity (PPP). The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore.

Alongside the business-friendly reputation for global and local privately held companies and public companies, various national state-owned enterprises play a substantial role in Singapore's economy. The sovereign wealth fund Temasek Holdings holds majority stakes in several of the nation's largest bellwether companies, such as Singapore Airlines, Singtel, ST Engineering and Mediacorp. With regards to foreign direct investment (FDI), the Singaporean economy is a major FDI outflow-financier in the world. In addition, throughout its history, Singapore has benefited from the large inward flows of FDI from global investors, financial institutions and multinational corporations (MNCs) due to its highly attractive investment climate along with a stable and conducive political environment throughout its modern years. (Full article...)

" I have already quoted in Marx's own words the passages relative to the subject. The line of argument divides itself clearly into three steps.

First step. Since in exchange two goods are made equal to one another, there must be a common element of similar quantity in the two, and in this common element must reside the principle of Exchange value.

Second step. This common element cannot be the Use value, for in the exchange of goods the use value is disregarded.

Third step. If the use value of commodities be disregarded there remains in them only one common property—that of being products of labour. Consequently, so runs the conclusion, Labour is the principle of value; or, as Marx says, the use value, or "good," only has a value because human labour is made objective in it, is materialised in it.

I have seldom read anything to equal this for bad reasoning and carelessness in drawing conclusions.

The first step may pass, but the second step can only be maintained by a logical fallacy of the grossest kind. The use value cannot be the common element because it is "obviously disregarded in the exchange relations of commodities, for"—I quote literally—"within the exchange relations one use value counts for just as much as any other, if only it is to be had in the proper proportion." What would Marx have said to the following argument?

In an opera company there are three celebrated singers—a tenor, a bass, and a baritone—and these have each a salary of £1000. The question is asked, What is the common circumstance on account of which their salaries are made equal? And I answer, In the question of salary one good voice counts for just as much as any other—a good tenor for as much as a good bass or a good baritone—provided only it is to be had in proper proportion; consequently in the question of salary the good voice is evidently disregarded, and the good voice cannot be the cause of the good salary.

The fallaciousness of this argument is clear. But it is just as clear that Marx's conclusion, from which this is exactly copied, is not a whit more correct. Both commit the same fallacy. They confuse the disregarding of a genus with the disregarding of the specific forms in which this genus manifests itself. In our illustration the circumstance which is of no account as regards the question of salary is evidently only the special form which the good voice assumes, whether tenor, bass, or baritone. It is by no means the good voice in general. And just so is it with the exchange relations of commodities. The special forms under which use value may appear, whether the use be for food, clothing, shelter, or any other thing, is of course disregarded; but the use value of the commodity in general is never disregarded. Marx might have seen that we do not absolutely disregard use value from the fact that there can be no exchange value where there is not a use value—a fact which Marx himself is repeatedly forced to admit."

—Eugen Böhm von Bawerk, Capital and Interest, 1884

• ... that businessman Usman Ja'far was the first locally born governor of
• ... that food was left to rot outside after the supermarket Supie went out of business?
• ... that the deity in Nakodaji is considered as a business partner by businessmen?
• ... that Roddie Fleming was expecting to inherit the family business, but it was sold to Chase Bank instead?
• ... that The Sims 2: Open for Business has been used to teach business students?
• ... that environmental economist V. Kerry Smith has been described as a "Renaissance Man of Economics"?

June 3:

• 1864 - Ransom E. Olds, a pioneer of the American automotive industry, was born on this day.

• ...that former Harvard University president Lawrence Summers served as the World Bank Chief Economist from 1991 to 1993?

• ...that André Meyer quit school at age 16 to work as a messenger boy, and was later described as "the most creative financial genius of our time in the investment banking world" by David Rockefeller?

• ...that Valrhona, a company based in the small town of Tain l'Hermitage in the Rhône Valley in France, is one of the world's leading manufacturers of high-quality chocolate?

• ...that it is estimated that more than 85 percent of all business information exists as unstructured data, commonly appearing in e-mails, memos, reports, letters, presentations and Web pages?

• ... that the Automotive Electronics Council is an organisation based in the USA that sets qualification standards for the supply of components in the automotive electronics industry.

• ... that Hollywood accounting is the practice of distributing the profit earned by a large project to corporate entities which, though distinct from the one responsible for the project itself, are typically owned by the same people, with the net result of reducing the project's profit by a substantial margin, sometimes even eliminating it altogether.

• ... the Consumables model is another name for the Razor and blades business model?

Wikinews Economy and business portal

• July 21: Technological University Dublin senior lecturer Dr Lorcan Sirr speaks to Wikinews on housing market in Ireland
• July 15: California governor signs new state budget, eligible Californians to get stimulus payments
• July 4: 130 OECD countries agree to back global corporate tax rate
• June 30: 'Each makes the other more difficult to recover from': University of Sussex professor L. Alan Winters speaks to Wikinews on trade, COVID-19, Brexit
• June 16: Wikinews interviews Victor Kline, leader of newly registered The New Liberals party in Australia
• April 23: Irish Finance Minister Donohoe criticises OECD's global minimum corporate tax rate
• April 17: People protest in Berlin against German Court overturning five-year rent cap
• March 5: Chancellor Rishi Sunak announces UK budget 2021
• February 10: Disney to shut down Blue Sky Studios, animation studio behind 'Ice Age'
• January 24: World Trade Organization declares US tariff hike illegal, rules in South Korea's favour