It depends what you mean. If you bid up the price of a stock or a house, I have (the illusion of) an increase in my assets.
John Vertegaal wrote:
Fair enough, but from my perspective, you're leaving out something vitally important, namely that our economic system is accounted for on the principles of _double_entry bookkeeping. In such a system, any notion of accumulating assets that exceed liabilities is inconceivable. In other words it is a system of _debt_ acquisition and a subsequent resolution, for a specific ultimate purpose; which, in order to keep the system itself meaningful, has to be situated outside the economic system as such, having lost all its economic mensuration. Marxians may recognize this supra-economic domain to consist of use values; and all of us happen to occupy it too, just supplying our vitality to the economic sphere and obtaining the bulk of our standard of living in return. I'm working on drawing a schematic representation of this. If the above isn't self-explanatory, I'll post it later.
-- Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901 www.michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
