Sabri wrote: > I like what Tom say a lot. We can say this: accounting is about the > past whereas finance is about the future. Can we say this: what is in > Capital Volume 1 is about accounting whereas what is in Capital Volume > 3 is about finance? Therefore, the LTV should go beyond Volume 1 and > incorporate Volume 3, also? As you may remember, Minsky was claiming > that any economic theory which does not take finance into its heart > cannot explain the world we live in well or something to that effect.
Not sure if this is relevant to the thread, but the most basic category in the first volume of Capital -- value -- is through and through about "finance" in Sabri's sense. To paraphrase Søren Kierkegaard: accounting only matters because, although life must be lived forwards, it can only be understood backwards. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
