Shane: > What difference is there between the "actual [monetary] value of real > assets" and the reproduction cost of those assets?
me: > the actual value would reflect the possible _benefits_ to their owners > from the use of the assets. Shane, now. > But isn't "market valuation" the only conceivable measure of the "actual > value" of a capital asset, whose only benefit to its owner is the "possible" > income stream accruing from it? We could hire an expert to evaluate future benefits. We may value the opinion of that expert more than we value the fad- and bubble-prone stock market. (Warren Buffet, it is said, makes his moolah on the difference between these.) Strictly speaking, of course, the value of the benefits can be determined _ex post_, after they're reaped. Our expert may easily be wrong, as with Mr. B. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
