Re: Re: RE: Re: Re: the labor theory of value

[michael]

Of course, the cost of reproduction must be the least cost option.  Oxygen
is a by product of growing plants.  The technology Brad proposes is not
very cost-efficient.

> 
> If a reproducible commodity ain't scarce, it has no value. We can 
> make oxygen out of water and electricity, but no one would say that 
> the cost of air is determined by its cost of reproduction...
> 
> Brad DeLong
> 
> 


-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
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