[OPE-L:5015] Re: Production and Circulation

Michael Williams (mwilliam@compuserve.com)
Wed, 14 May 1997 06:35:31 -0700 (PDT)

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Duncan wrote:
> >general equivalent form.) If we look at an economy over a specific
> >we can in principle (subject to a number of problems about measurement
> >labor, reduction to simple labor, and distinction between productive and
> >unproductive labor) observe how much labor time was expended.

Michael W

What do you think of the suggestion that your parenthetical problems are
repeatedly resolved in reality by the operation of markets (factor markets
as well as output markets)?

Dr Michael Williams
"Books are Weapons"

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