[OPE-L:906] Re: Valuation of Inputs (Andrew)

Michael Perelman (michael@ecst.csuchico.edu)
Wed, 31 Jan 1996 17:19:06 -0800

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Andrew wrote

Michael Perelman says my comments were "partially correct."
In what way were they incorrect--I'm no expert here, I'm asking, not
challenging. Relatedly, Michael, do you think Keynesian demand management
could have pumped up demand, and/or kept the price level from falling, if
we had still been on the gold standard?

No. I only meant that monopolization was the first stage in protecting
capital values. Keynesian policies, the second. Keynes was quite clear that
his ideas were incompatible with the gold standard.

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu