ABSTRACT
The value of an asset usually changes with time. In some cases the asset becomes more valuable as time passes. For example, wine matures with time. Favoured sites in a rapidly growing city become more valuable as population grows. The assets used to produce a new commodity become more valuable as the commodity becomes more popular. And most assets increase in monetary value in an inflationary situation, though the “real” value of some, corrected for changes in the general price level, may actually be falling.
