Re: Addendum, re Marx and historical costs

aramos@aramos.bo
Sat, 7 Feb 1998 07:23:17

A correction to my PIAF:

> Date: Fri, 6 Feb 1998 20:24:50
> From: aramos@aramos.bo
> To: ope-l@galaxy.csuchico.edu
> Subject: Re: Addendum, re Marx and historical costs

After reading a printed copy of the above mentioned post, I realized
that there is a mistake in the formula of the *capital advanced*
before the losses are writing down.

Actually, in Andrew''s model, this advanced capital should be
something like that:

K[t] = v[o]*f[o] + v[o]*f[1] + v[1]*f[2] + ... + v[t-1]*f[t]


where the "f" are the *additions* to fixed capital carried out at the
beginning of each year, "valued" at the *output* prices of the
*preceding* circuit.

However, I haven''t figure out the solution of this sum. Maybe Andrew
has already calculated it!

Alejandro Ramos