Michael Perelman wrote:
>
> Asset prices can convey information, but they can also convey misinformation.
> These
> prices can be correct. Even a stopped clock gives the right time a couple
> times a
> day. The problem is the inability to identify when the price is correct and
> when it
> is not.
[clip[>
> On Wed, Dec 17, 2008 at 11:22:19AM -0500, Doug Henwood wrote: [clip]
> >
> > They can sometimes, ****whatever "right" means****
Isn't Doug's qualification key. The "right price" of assets is
determined by factors that have nothign to do with the asset itself???
The concept is pretty meaningless.
Carrol
^^^
CB: Nothing to do with the use-value of the asset, and nothing to do with the
labor input to the asset or commodity. ( All assets are commodities; the
wealth of nations under the capitalist mode of production presents itself as a
vast accumulation of commodities.)
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