Re: Uncertainty and Liquidity Preference

[aldo balardini <balardini@xxxxxxxxx>]

--- Paul Davidson <pdavidson@xxxxxxx> wrote:
,
> if I have an
> employment contract to teach courses at the
> University and if I quit in the
> middle of the term to take a better job elsewhere,
> the University can sue
> me -- but since slavery is illegal they can not
> force me to fulfill my
> contractual commitment to appear in front of
> students and teach.  They can
> only go to court and ask the court to enforce the
> contract.
>
> If the court does, the court will enforce the
> contract by requiring me to
> pay MONEY (not labor time) to the university to
> discharge my contractual
> obligation ieven though I agreed to the contract n
> terms of labor time.

So you are saying that in all job contracts money represents labor time
but in all other types of contracts money represents something else???
What could be this something else besides labor time??

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