At 03:45 PM 07/03/2002 -0700, Jim wrote:
Joanna writes: You know, I'm really tired of this low inflation crap. The
inflation in housing, equities (till lately), health care, and education
has been HUGE. I don't know why it doesn't count.
at some point, economists decided on a conventional
joanna bujes wrote:
OK, fine. Economists have decided that most of what people spend
money on: houses, education doesn't count. But the question remains:
how does this affect their planning and calculation and the
information that filters out to the uninitiated? My eight year old
daughter
Joanna writes:
OK, fine. Economists have decided that most of what people spend money on:
houses, education doesn't count.
I don't think that is the case. The CPI was originally intended to help
determine whether nominal wages (what people get paid) were rising fast enough
to keep up (or
Devine, James wrote:
this is a common mistake, i.e., that of assigning some sort of
normative meaning to value or surplus-value, when these are
normative only from the perspective of commodity-producing society
or capitalism (respectively). The attachment of normative meaning to
Hi Christian
Christian: Hmm, not really. The difference is that money backed by gold is
convertible on
demand. Fiat money is not.
Karl: Concerning money as medium of exchange Marx in Capital has the
following to say (and I quote):
The function of gold as coin becomes completely independent of
- Original Message -
From: Doug Henwood [EMAIL PROTECTED]
What about storage costs? Insurance?
Nothing's perfect.
Doug
==
That's what folks at Zen monasteries say :-)
Ian
