[OPE-L:2142] Re: Re: Gold and rent

[Allin Cottrell <cottrell@xxxxxxxxxxxxxxxxxxx>]

On Thu, 13 Jan 2000, John Ernst wrote:

> For those who want to start with labor hours in order to get
> a set of prices, differential rent becomes a problem as well
> since its very existence indicates that not all actual hours
> of labor create the same value even if we assume that all
> labor is simple labor.

That's not my understanding: I'd say that the existence of
differential rent drives prices away from values for the
affected commodities, not that it alters the values of the
commodities.  The infra-marginal output ends up selling for a
price above its value.

Allin Cottrell.