[OPE-L:6293] RE: Re: Historical, real and current costs

andrew kliman (Andrew_Kliman@CLASSIC.MSN.COM)
Mon, 16 Mar 98 20:19:35 UT

A reply to the PIAF:

From: owner-ope-l@galaxy.csuchico.edu on behalf of Gerald Levy
Sent: Sunday, March 15, 1998 3:11 PM
To: ope-l@galaxy.csuchico.edu
Cc: multiple recipients of list
Subject: [OPE-L] Re: Historical, real and current costs

"From Andrew's latest response to my questions, I think I now understand what
he means above. I.e. in his illustration workers can use their wages to
acquire all of the stocks in existence *if and only if* the stocks in
existence on March 14 are less than the 100 widgets produced on 3/14."

Not really. The wages allow them to acquire only 99 widgets, so if stocks
exceed 99, they can't buy them all. But if fewer than 99 widgets were
produced on 3/14, they could acquire more than the amount produced.

"In this illustration, we're not dealing with "reality"."

I stand by my statement.