Re: [OPE-L] basics vs. non-basics

From: Gerald_A_Levy@MSN.COM
Date: Wed Sep 21 2005 - 09:12:49 EDT

[Paul C wrote:]
> What you have then is a famine, and the reproduction of the
> population is seriously in question. A large part will die off
> in the absence of relief supplies comming in. Prices are
> then driven by speculation rather than costs of production and
> the theory of value ceases to to have any relevance to describing
> what happens.
[Phil wrote:]
Ex-post value accounting can still be done in these circumstances, whatever
happens to prices. Simultaneous valuation theories, of course, breakdown.


All theories which, through the assumption of the conservation of value,
allow no role for the destruction of value, breakdown.

In solidariuty, Jerry

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