From: Phil Dunn (pscumnud@DIRCON.CO.UK)
Date: Sun Jun 13 2004 - 12:35:28 EDT
Ajit wrote: > >Phil, I have a feeling that by now you have understood >the bankruptcy of your argument, but don't want to >accept it publicly. A communication problem here. Ajit. I am grateful to you for providing a counter-example which demolishes replacement cost accounting. Any system of inflation accounting should default to historical cost accounting when there is no inflation. Replacement cost accounting does not do this. > The point I'm making is a logical >one. Now you realize that the TSS calculation of >profits is irrational. I do, do I? > It can show a continuous >positive rate of profits for sectors that are >economically not viable. Give your definition of viable. It is not, by any chance, static, is it? > This contradiction is a >logical contradiction. I gather from Fred's earlier >postings that he is also doing the same thing, and >thus this criticism applies to him as well. Cheers, >ajit sinha Please spell out the argument. Phil
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