aramos@aramos.bo wrote:
>
> I basically agree with Jerry's observations in ope-l 4244 in terms of
> a more "realistic" conceptualization of e.g. wage payments. But my
> point is directed mainly to know if TSS makes this primary (and broad)
> distinction:
>
> a) the physical basis of constant capital is conceived as always
> produced in period t and consumed in t+1, so that the *price*
> relevant for constant capital is that prevailing in period t.
As I understand Marx, capital should be valued at its reproduction
costs; i.e., the t+1 prices.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu