[OPE-L:3152] RE: Value added, IVA and TSS

andrew kliman (Andrew_Kliman@msn.com)
Thu, 26 Sep 1996 15:35:06 -0700 (PDT)

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A reply to Simon's ope-l 3141:

Simon wrote:

"I have two queries of (orthodox/heterodox) TSS advocates.
"In a multi-commodity world
1. Is the value equation still written as above (but in matrix algebra)? I
seem to remember that I have seen it as
v(t) = p(t-1)A(t) + l(t)
2. Could someone put timescripts on the input-output equation x = Ax + y?"

The answer to 1. is that what you remember is correct. In the one-commodity
case, p(t-1) = v(t-1). I should mention that there is no unanimity concerning
value transfer of fixed capital among us, so there's no general agreement at
this point that the above is correct if there's fixed capital.

With respect to 2, I'm not sure. Are you referring to a theoretical equation
or the tables?