[OPE-L:3061] Re: John Ernst's OPE-L 3016

Michael Perelman (michael@ecst.csuchico.edu)
Thu, 19 Sep 1996 16:58:00 -0700 (PDT)

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Duncan K. Foley wrote:
>

>from
> the capitalist's point of view the important issue is the cash flow itself.
> (This conclusion has to be modified to some degree in the light of
> corporate income taxes that distinguish depreciation and profits.)

Yes, but how do you measure ex ante cash flow? How do you even measure ex post cash flow without
some adequate method of depreciation?

But there is no adequate method of depreciation.

-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929
 
Tel. 916-898-5321
E-Mail michael@ecst.csuchico.edu