[OPE-L:3719] Re: Re: Revaluation

From: Michael Perelman (michael@ecst.csuchico.edu)
Date: Thu Aug 24 2000 - 12:22:24 EDT

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Thanks for your response, John

John Ernst wrote:

> Clearly, capitalists are more sophisticated today as the
> accounting profession has made a bit of progress since Marx's time. It
> seems to me that we'll have to work out all cases which would include
> the underestimation as well as the overestimation of the lifetimes of
> fixed capital.

You are correct that accountants have made some progress. You probably recall the
materials I posted about 19th C. accounting, but also technological change is more
complex. I don't think that the accountants can help us to understand the future.

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321 E-Mail michael@ecst.csuchico.edu

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