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Re: [Pen-l] Fictitious Value vs. Marxian value

Michael Perelman wrote:
> The two concepts -- fictitious capital and discounted present value -- are not entirely
> different. Marx's term is more useful because it emphasizes the fact that the future is
> both unknown and unknowable.

right. No-one ever said that future expected earnings had to be
discounted using market interest rates.
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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