John wrote [#4057] > In OPE-L 4056, Andrew wrote: > > > "Inputs and stocks are two different things. Inputs are things that > have been used up, no longer exist, whereas stocks are still in > existence." > > > I think there is a question of how we look at things here. For example, > if a capitalist has $100 worth of stock at beginning of production and > that stock is worth $50 at the end of the period, has not $50 of stock > been "used up"? Must we look at physical units involved to determine > the value "used up:? > It seems we must, or your point wouldn't be understandable, since I take it that when you refer to "that stock" you refer to physical items. If you instead mean the $100, then from your formulation we cannot tell whether the $50 missing at the end has been used up *in production*, or whether it has evaporated due to moral depreciation, accidental loss, etc. In the latter case, $50 may indeed have been "used up" in some sense, but not as an input to production, which is what Andrew was referring to. Julian
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