OK, so I won't ask serious theory to explain prices.
Carrol Cox wrote:
Jonathan Nitzan wrote:
What I'm trying to say, Jim, is that to observe prices and to conclude from these observations about theoretical values and theoretical utility/productivity is to go in the wrong direction. I always thought that theory should explain the world, not the other way around.
Asking serious theory to explain prices is like asking quantum mechanics to give you the correct oven temperature for roast lamb.
Carrol
