Re: Our Fundamental Theory Of Value [Was: Re: US Trade Deficit As 'World Engine Of Growth'?

[Gunnar Tómasson <gunnar.tomasson@xxxxxxxxxxx>]

Paul:

The point at issue is what Keynes termed "Our Fundamental Theory Of Value".

And that is something which you have NEVER addressed on PKT.

Why?

Gunnar


----- Original Message -----
From: "pdavidso" <pdavidso@xxxxxxx>
To: "Gunnar Tómasson" <gunnar.tomasson@xxxxxxxxxxx>
Cc: <pkt@xxxxxxxxxxxxxxxx>
Sent: Wednesday, October 01, 2003 7:27 PM
Subject: RE: Our Fundamental Theory Of Value [Was: Re: US Trade Deficit As
'World Engine Of Growth'?


> >===== Original Message From Gunnar Tómasson <gunnar.tomasson@xxxxxxxxxxx>
> =====
> >Paul:
> >
> >Here are points which I circulated yesterday to Gang8 and PKT (it has yet
to
> >be posted) on what Keynes termed "Our Fundamental Theory Of Value".
> >
> >If you read it with attention, perhaps you might understand what Keynes
was
> >all about
> >
> >Gunnar
> >
>
>
> I have read your points --and am nowe convinced you are confused.
>
> First part of the problem is tha you confuse "Final Demand inflation and
New
> Money -- with something called the "real bi9lls doctrine" --which Keynes
was a
> strong believer in -- as is  clear when he had to amen his liquidity
> preference3 theory with the finance motive demand [See THE ECONOMIC
JOURNAL,
> 1937] All thisd is in my book -- which you apprantly refuse even to look
at --
> although I am willing to look at your confused notions in Notes to the
Gang of
> 8
>
> Dialog and communication requires a two way steeet -- but you do insist on
a
> one-way path.
>
> Hence nothing can come of our debate onth epktnet -- since I am obviously
not
> being permitted to communicate with you -- by your blocking out reading
> anything I have written.
>
> Paul
>
> Paul Davidson
> Editor, Journal of Post Keynesian Economics
> University of Tennessee
> SMC 503
> Knoxville, Tennessee 37996-0550
> office phone #;(865)974-4221; office fax# (865)974-1686 or (865)974-4601
> home phone and fax # (865)692-0802
> email pdavidson@xxxxxxx
> http://econ.bus.utk.edu/davidsonextra/Davidson.html
>
>