[OPE-L:2142] Re: Re: Gold and rent

From: Allin Cottrell (cottrell@ricardo.ecn.wfu.edu)
Date: Thu Jan 13 2000 - 14:58:23 EST

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On Thu, 13 Jan 2000, John Ernst wrote:

> For those who want to start with labor hours in order to get
> a set of prices, differential rent becomes a problem as well
> since its very existence indicates that not all actual hours
> of labor create the same value even if we assume that all
> labor is simple labor.

That's not my understanding: I'd say that the existence of
differential rent drives prices away from values for the
affected commodities, not that it alters the values of the
commodities. The infra-marginal output ends up selling for a
price above its value.

Allin Cottrell.

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