[OPE-L:4058] RE: Revaluation

From: P.J.Wells@open.ac.uk
Date: Thu Oct 12 2000 - 10:53:16 EDT

John wrote [#4057]

> In OPE-L 4056,  Andrew wrote:
> "Inputs and stocks are two different things.  Inputs are things that 
> have been used up, no longer exist, whereas stocks are still in
> existence."
> I think there is a question of how we look at things here.  For example, 
> if a capitalist has $100 worth of stock at beginning of production and
> that stock is worth $50 at the end of the period,  has not $50 of stock
> been "used up"?   Must we look at physical units involved to determine
> the value "used up:?
	It seems we must, or your point wouldn't be understandable, since I
take it that when you refer to "that stock" you refer to physical items.

	If you instead mean the $100, then from your formulation we cannot
tell whether the $50 missing at the end has been used up *in production*, or
whether it has evaporated due to moral depreciation, accidental loss, etc.

	In the latter case, $50 may indeed have been "used up" in some
sense, but not as an input to production, which is what Andrew was referring


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