Re: [OPE-L] iPod and LTV

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Wed Jul 04 2007 - 13:52:58 EDT

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Just to emphasize. The question of double divergence is not scholastic.
Consider Varian's accounting of value added in commodity chains. Let's say
that intermediate inputs are purchased at prices systematically below
value. Then what appears to be value added by mental or design or creative
labor farther down the value chain could in part result from the value
transferred from the consumed means of production. But this would be an
impossibility in single system accounting.
Rakesh

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