The tendency of earnings estimates to fall

Doug Henwood dhenwood at panix.com
Wed Apr 4 11:12:29 PDT 2001


James Heartfield wrote:


>What's it worth and what's its value are two wholly different questions.
>
>The underlying point though is one that Geoff Pilling made against
>Ronald Meek, if I remember rightly. The critique of the law of value is
>not an attempt at replacing business's bookkeeping, but understanding
>the laws of motion of this society.

But that's not what we were trying to do. We were trying to figure out where the reported productivity boom went, if it wasn't showing up in higher profits.

Doug



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