Conversation
Notices
-
@moffintosh @kaia @dushman @Moon @Hyolobrika money and value are not the same thing. This is just saying you can predict prices with... other prices. nothing about actual "value". They even say that in the paper.i
> Given the statistics that
are available for capitalist economies, however, one has no choice but to use data that are expressed in monetary
terms. Instead of in-kind figures for, say, the quantity of coal used by the steel industry or the quantity of aluminium used by the aircraft industry, we have figures for the money value of the purchases of each industry from
each other industry. And instead of a vector of hours of direct labour performed in each industry we have a
vector of wage bills.