[OPE-L:2145] Re: Transforming the Transformation

Paul Cockshott (wpc@cs.strath.ac.uk)
Fri, 10 May 1996 09:08:29 -0700

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>Simon replies:
>You say first lx and vm (value of money), then py.
>I am no longer sure this is right.
>In part my view is structured by the demands of empirical investigation:
>1. First py.
>2. Then s/v from e = s/v = P/W
>3. Then vlp from e=(1-vlp)/vlp
>4. Then vm from vlp/vm=w
>5. Then lx from py=lx/vm.
>I imagine I will be accused of confusing measurement with determination. But
>I am interested in constructing a time trend for vm and using it to help me
>think about it theoretically. That's about the best I can do at the present.
When it comes to dealing with real data, Simons approach or something
like it has to be adopted.
Paul Cockshott