The future value of a resource is reflected in its resale value.
No: the market's present assessment of an asset's future value with relation to the present state of the market is what its (re)sale price shows.
There is a difference between "price" and "value", and it's a long, long discussion. Smith reflects on it at length in Wealth of Nations, particularly the distinction between the "natural" and "market" prices of commodities: http://www.gutenberg.org/files/3300/3300-h/3300-h.htm#link2H...
The longer discussion involves much of what is now called economic discourse prior to Smith, see generally Backhouse, The Ordinary Business of Lifehttp://www.powells.com/biblio/62-9780691116297-1
In particular, the market can grossly overvalue items (bubbles), and it can put premiums on present consumption during times of crisis (e.g., burning books or artworks for their heat value in wartime).
And there are goods of immense value for which no or limited markets exist: air and water, in general (assuming you can capture these from the skies or collect them from the land).
I wanted to make explicit the distinction between "value" which can denote a range of concepts, and "price" which specifically refers to a sum of money. Since value itself is at question here.
Though yes, "market value" generally equates to "market price". And the pedants will note that "price" needn't be strictly limited to monetary assessments, though that's how I'm using the term here.
No: the market's present assessment of an asset's future value with relation to the present state of the market is what its (re)sale price shows.
There is a difference between "price" and "value", and it's a long, long discussion. Smith reflects on it at length in Wealth of Nations, particularly the distinction between the "natural" and "market" prices of commodities: http://www.gutenberg.org/files/3300/3300-h/3300-h.htm#link2H...
The longer discussion involves much of what is now called economic discourse prior to Smith, see generally Backhouse, The Ordinary Business of Life http://www.powells.com/biblio/62-9780691116297-1
In particular, the market can grossly overvalue items (bubbles), and it can put premiums on present consumption during times of crisis (e.g., burning books or artworks for their heat value in wartime).
And there are goods of immense value for which no or limited markets exist: air and water, in general (assuming you can capture these from the skies or collect them from the land).