[OPE-L:3997] Re: Re: Re: Re: m in Marx's theory

From: Duncan K. Foley (foleyd@cepa.newschool.edu)
Date: Fri Oct 06 2000 - 22:38:48 EDT

Ajit writes:

>Simon Mohun wrote:
>>  There are lots of empirical problems, and one needs a feel for plausible
>>  orders of magnitude. But ex post it's certainly possible to calculate time
>>  series of the value of money and its inverse. One might not have a theory
>>  of determination, but at least rough accounting measures are possible (ven
>>  if they still need more work!)
>So what is your point Simon? I could determine a variable say k, which is a
>ratio of the mass of moon to the mass of earth. But what is the 
>point of it, is
>my question. Cheers, ajit sinha

The point of it is that these changes are what we have to explain.

Duncan K. Foley
Leo Model Professor
Department of Economics
Graduate Faculty
New School University
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