raghu wrote: >>> That might apply to most commodities, but does that apply to finite >>> non-renewables like oil?
me: >> in the case of desirable non-renewables, it's usually true that price >> value. That is, when demand is sufficiently high, the owners of the >> non-renewables would receive a "land rent" or a "scarcity rent." raghu, now: > So you [agree] with me that this analysis would not apply to oil? I'm not denying the hypothetical case of infinite labor productivity implying zero value. Rather, as with Marx, I don't see a simple link between value and price. Just because it's almost free (in technical terms) to download music from the web does not mean that the actual price is almost zero. -- 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
