> v = pA + L
I'm puzzled by this equation, particularly when it is given the
"sequentialist" interpretation where p is dated t and v dated
t+1. The p vector is market prices multiplied by the "value of
money" expressed in hours-per-dollar, right? But then market
prices are theoretically prior to labour-values, and the latter
cannot serve to explain, predict or whatever actual prices.
Allin Cottrell
Department of Economics
Wake Forest University