From: Philip Dunn (pscumnud@DIRCON.CO.UK)
Date: Fri Sep 23 2005 - 17:13:30 EDT
Quoting Gerald_A_Levy@MSN.COM: > > [Re temporal valuation theories] The value of outputs is equal to the > > value of inputs plus value added. Value added is always positive. > > Hi Phil: > > Good. That was my point -- both simultaneous and temporal > valuation theories 'breakdown' in situations in which there is > no value added. > > In solidarity, Jerry > Hi jerry Where there is labour, there is always value added. If there are no physical outputs, the value of outputs is zero. No use-value, no value. It seems to be a breakdown. How could anyone get out of that? I am working on it. Remember that this is ex-post, accruals based, stock-flow value accounting. There are a few shots in my locker. Philip Dunn
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