I neglected to be explicit enough about the connection between my note and
Alan's original post. If the unbrella industry vertically disintegrates,
the period of production changes. In other words, the period of production,
as well as aggregate constant capital, depends on the social division of
labor.
Unless you are a Coasian, you probably do not believe that market forces
explain the social division of labor.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 916-898-5321
E-Mail michael@ecst.csuchico.edu