From: Ian Hunt (ian.hunt@FLINDERS.EDU.AU)
Date: Thu Sep 06 2007 - 23:54:12 EDT
Dear Fred,
Well yes, given that clarification, it may be
mistaken. Schefold takes a "year" to be fixed
conventionally. It can be taken as the least
turnover period of capital, if I recall, but I
suppose you could complain that this does not
distinguish between fixed and circulating capital
as it is in capital accounts (items for which you
do or do not depreciate)
Cheers,
Ian
>Quoting Ian Hunt <ian.hunt@FLINDERS.EDU.AU>:
>
>>
>>Bertram Schefold ("Fixed Capital as a Joint Product," Jahrbucher für
>>Nationalökonomie und Statistik 192 (1977) has a Sraffa style model
>>with unequal turnover periods of capital. So Fred's comment seems
>>plainly wrong,
>>Cheers,
>>Ian
>
>Hi again,
>
>I have a later version of that paper, and again (as the title indicates)
>the paper is about incorporating fixed capital into a Sraffian model.
>It does not assume unequal periods of turnover of circulating capital
>across industries, which is the problem I was referring to. The period
>of turnover in all industries is referred to as a "year". (e.g. "After
>the end of THE YEAR, the new machines leaves the process as a ONE-YEAR
>OLD machine ...; emphasis added). This would be true in all
>industries, with the same turnover period of one year.
>
>So the conclusion that you jumped to ("Fred's comment seems plainly wrong")
>itself seems mistaken.
>
>Comradely,
>Fred
>
>
>
>
>
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--
Associate Professor Ian Hunt,
Dept of Philosophy, School of Humanities,
Director, Centre for Applied Philosophy,
Flinders University of SA,
Humanities Building,
Bedford Park, SA, 5042,
Ph: (08) 8201 2054 Fax: (08) 8201 2784
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