This article in part treats certain important commodiities in simple commodity relation to each other , a la Chapter 1 of _Capital_ as a way of estimating current Values. Mark points out to me that the above is unclear to anyone who has not been on a thread I was on on another list recently ( and maybe even to those who were on the thread). It was an impressionistic thought actually. The article below reminded me of Marx's analysis of bartering, or direct exchange of commodities as a way of determining value in Chapter One of Capital. I thought it was a clever way to show a Marxist approach to value in contrast with the methods of bourgeois economists, with all the confusion about inflation etc. C. Brown ____________ [from Policy Pete, http://qv3.com/PolicyPete/policypete.htm ] It is common these days to run into the argument that the current oil and gas price level is not that high because a time series that discounts from nominal to real prices will show that prices in the late 70s were much higher. But these arguments, while literally correct depending on which deflator is used, can be misleading because so many of the relative indicators of the price level have changed so much. In 1980 the price of gold was more than three times the cu _______________________________________________ Crashlist resources: http://website.lineone.net/~resource_base To change your options or unsubscribe go to: http://lists.wwpublish.com/mailman/listinfo/crashlist
