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On Fri, 3 Mar 2000, Gerald Levy wrote:
> > I believe it will be very useful for
> > planners and populace to have an explicit measure of the labour
> > time required to produce things, and that minimizing labour-time
> > in the production of any given vector of goods is a reasonable
> > first-order approximation to achieving efficiency...
> But, how reasonable is it?
>
> If one uses the criteria of the minimization of necessary labour-time as
> the means to increase efficiency, then doesn't one minimize necessary
> labour-time by maximizing the intensity of labour, ceteras paribus?
Please, Gerry, a little credit! Minimizing intensity-adjusted
labour-time is the idea.
Allin.
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