From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Fri Aug 24 2007 - 11:21:50 EDT
Sorry folks as I wrote too hastily, an error occurred. I wrote in reply to Prof. Cockshott: Thus, in the USA, the US Budget cites the 2005 stock of non-residentials structures + consumer durables as being worth $15.1 trillion as against $14.9 trillion worth of non-residential plant & equipment + inventories. This should obviously be: Thus, in the USA, the US Budget cites the 2005 stock of residential structures + consumer durables as being worth $15.1 trillion as against $14.9 trillion worth of non-residential plant & equipment + inventories. In National Accounts, the value of land improvements is included in capital formation, but not the value of land itself (similarly, land and subsoil rents except rentals receivable and payable under operating leases by producing enterprises are not included). As I said, I have no estimate for the total values of productive and non-productive land in the US, though my hunch was when I looked into it that there is physically more "non-productive" land than productive land. I could be wrong there, but then US land use statistics are typically compiled state by state. Jurriaan
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