@GravelInstitute …government of various form is what facilities & enables any such imbalanced negotiations; fiat currency, taxation, & simple robbery are theft.

#Utility, for #Bastiat, is the substrate of #Value attributable to nature, #Labor, and “almost always” the combined activity of both. @GravelInstitute …But

“I call #Value only that portion of #Utility that #Labor imparts or adds to things, so that two things have value when those who have labored over them exchange them freely for one another.”

Water is worth nothing. It does not have value, although it has utility.