Ian wrote in [4024]:
>3) One consequence of capital not being employed in general for its
>economically optimal lifetime is that the Okishio theorm does not extend to
>systems with fixed capital (it would if competition did enforce
>economically optimal use of fixed capital)
>
>
Chai-on:
Could you specify the above remark more in detail? For me, I failed to
understand it.
Yours,
Chai-on Lee
Faculty of Economics,
Chonnam National University,
Kwang-Ju, 500-757,
S Korea
Tel: +82-62-520 7329
Fax: +82-62-529 0446
E-m: conlee@chonnam.chonnam.ac.kr