Date: Wed May 03 2006 - 09:52:10 EDT
Hi again Alejandro, What did you think of his reply (abstract below) printed in the same issue of the _CJE_? Clear as water? In solidarity, Jerry Reply to Cockshott and Cottrell Andrew J. Kliman Cambridge Journal of Economics, 2005, vol. 29, issue 2, pages 317-323 Abstract: This note reaffirms the author's conclusion that measured price--value correlations have been tainted by the influence of industry size and are therefore spurious. 'Deflation' of sectoral prices and values by costs destroys the correlation only because the theory in question is false, as the author's original paper proved deductively. Cockshott and Cottrell's results do not refute this proof. Deflation destroys the correlation between their simulated prices and values precisely because their simulation model assumes that the theory is false.
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