Re:

[Bruce McFarling <ecbm@xxxxxxxxxxxxxxxxxxx>]

>It strikes me as self-evident that, with labor regarded as 'the
>sole factor of production', entrepreneurial profit is necessarily
>the product of final demand inflation.

What additional premises are you starting with so that you can
add this concept and arrive at this conclusion?  Not only does
it not seem self-evident to me, it does not seem to me that
the premise can bear directly on the conclusion ... income is
about how receipts are allocated.  They are all allocated to
people, on one or another grounds.  How does viewing labor
as the factor of production and everything else as a sort of
"productive infrastructure" *bear* on institutions for
allocating receipts of productive organisations?


--
Dr. Bruce R. McFarling, PhD
Bus. Office 1.72 -- (02) 4348-4078
School of Business
Faculty of the Central Coast
Newcastle University, Ourimbah