On Apr 23, 2008, at 2:53 PM, [EMAIL PROTECTED] wrote:
Sure, but KM thought it enough of a thing to posit all sorts of
mathematical formulae
including its constituent parts (fixed, variable, etc.)
Sure, but all those formulae are denominated in terms of *value*--ie.,
capitalised surplus value expressed as depreciated hours of socially
necessary labor time. "Natural capital" doesn't fit. So how to
account for it?
To start with, GDP includes as positive the "product" of mines, oil
wells, forests, etc. So instead of a plus sign before all those
"values" there should be a minus sign. And the "value" of
environmentally destructive activities should incur a debit
representing the cost of repairing the destruction (that is, of
holding "social capital" constant.)
Shane Mage
"Thunderbolt steers all things...it consents and does not consent to
be called Zeus."
Herakleitos of Ephesos
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