[OPE-L:4896] Re: Sraffa's Non-Proof

Chai-on Lee (conlee@chonnam.chonnam.ac.kr)
Thu, 1 May 1997 08:05:38 -0700 (PDT)

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At 10:13 97-04-23 -0700, John wrote:

>In the 2-commodity world Ajit and Andrew are discussing, it
>would seem possible to assign "$" prices in one period such
>that the unit prices of each commodity do not change as
>inputs become outputs. Given production in a subsequent
>period, Andrew's point would seem valid. If not, again,
>we have to ask how are we to deal with "real" prices
>as opposed to mere relative prices in a Sraffa system.



What is "real price"? The relative exchange-value between the 2 commodities
is the real price whereas the $price is a nominal price. At the moment,
however, the nominal price is irrelevant.