Can't is a mighty strong word.

the reality is a compartmentalized system; on one side the elite allowed to practice capitalism as long as they behave and trade as instructed and on the other side over a billion peasants

If you can nerve staple everyone and hook their brain up to the AI... maybe?

Exactly. Mercantilist.

not merchantilist

East India Company was super large, took over an entire country, still had to answer to the crown.

they don't get to keep their money

they only get to keep the property

there is a BIG difference

See, now you're thinking on the proper level of conspiracy.

members of the supreme soviet also had nice property

How much should a loaf of bread cost?

How much does it cost to produce?

Nope

https://twitter.com/britainelects/status/1176974846938497024?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1176974846938497024&ref_url=https%3A%2F%2Fwww.redditmedia.com%2Fmediaembed%2Fd9a0uc%3Fresponsive%3Dtrue%26is_nightmode%3Dtrue

Some good shit

who dictates 'should'?

The answer is “As much as the customer is willing to pay.”

what dictates 'should'

which means if i manipulate the customer, i manipulate the cost

seems there is a massive hole in your argument

There is no AI. No system, nothing, that can calculate that.
It happens organically. Via market forces.

This is why socialism always fails.

in theory, yes. but modern trading bots can ALREADY create market changes that look like authentic trends

supply and demand haven't been the primary input variables for quite some time

Socialism is just laziness

a market manipulated by an elite few for their benefit shows little difference to a top-down economy

The question was the practical one. And the cost of production *should* play into the hamfisted answer provided.

what about services?

So, no, not outright negation if you'd rather discuss it.

or IP?

As said, cost of production is the first question for valuation.

but a service doesn't nessecary have any cost of production

Eh, secondary costs of manpower maintenance and so on play.

https://www.youtube.com/watch?v=xd1Fd-WzF7k

i am of the traditional school of thought that only PRODUCTION represents true economic value

Eh, service is valuable as well.

services simply enable producers to spend more time producing

but they provide no lasting value

And manpower costs count as material in context.

Eh, providing that time is of lasting value.