>John E.:
> My question: I'm not sure what you mean when you say that as we
> consider the aggregate -- the labor accounting seems okay.
>
> Do you simply mean that we know the sum of living labor time
> spent in all sectors? If so, what do you do with constant
> capital -- advanced and used up? How do we know labor time
> involved in the aggregate?
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>From the physical input-output table you can derive
all the labor values including the labor-values of constant
capital. So i'm not leaving constant capital out in my aggregate
labor accounting.
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>
> It seems to me that for the aggregate we would agree that what
> we know is the total labor time, the total price of all the
> constant capital, and the total price of all outputs including
> the fixed capital that can be used to produce the next aggregate.
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We don't know the prices. Finding out the prices is the theoretical
problem isn't it? There is no theoretical problem in reducing
constant capital to labor time units. I hope this clearifies a bit.
Cheers, ajit sinha
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>
>
>
> That's it. I'll stop here as I'm not sure what you "see" at
> this level.
>
>
>
>
>
> John
>