Andrew:
>A reply to Chai-on's ope-l 4018.
>
>He wrote:
>
>"Accounting is of course to be different from the determination of value. But
>you [I] appear to have confused the two things. Value is determined ex ante
>but is revealed ex post."
>
>Before and after what? Are you saying that capitalists' decisions, not the
>process of production, determine value?
>
Chai-on:
Before and after exchange. Value is determined IN the process of production
independently of the producers' decision. To sell the products successfully,
the capitalists have developed the accounting skill of production costs.
Depreciation is determined objectively, but is known to the capitalists
after several years (after the duration). Perelman seems to have insisted this.
In that sense, I agree with him. But I disagree when he says the capitalists
cannot know anything about true values. I insist they can, not accurately
though.
With regards,
Chai-on