Iwao
>(1) hourly value added by skilled labour
> =hourly value added by simple labour + education cost/lifetime (working)
hours
>
>(2) hourly value added by skilled labour is determined independently from
> hourly value added by simple labour + education cost/lifetime (working)
hours
>
>If you would take (1), then you would assume that education is a process of
>value transfer. If you would take (2), then education would be a process of
'production'
>of value creating power.
>
>I'm sympathetic to (2).
>
Paul C:
Depends what you think value is. I think that value is a measure of the
cost to society of producing something, in which case (1) is the correct
measure.
Paul Cockshott
wpc@cs.strath.ac.uk
http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html