[OPE-L:3757] RE: Revaluing Capital

From: P.J.Wells@open.ac.uk
Date: Tue Sep 05 2000 - 17:45:57 EDT

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Thanks for this reply: what I think I get from it is that we are reading
Fred in different ways -- you seeing him as a thorough-going simultaneist,
whereas I tend to see him as *almost* having a TSS-type position.

To the extent that Fred *is* a simultaneist, then I think your points in
#3755 follow, except that I'm not sure I see the significance of your final
point about different estimates of physical life.

Obviously this will lead to different depreciation charges -- but isn't this
just a practical problem within any theoretical framework (and not in fact a
very big one for a wide range of asset types)?


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