Subject: Re: the value chain
From: Russell Nelson <nelson@crynwr.com>
Date: Fri, 10 Dec 1999 09:30:35 -0500 (EST)

Crispin Cowan writes:
 > "Stephen J. Turnbull" wrote:
 > > Or, more accurately, they increase the proportion of capital while
 > > decreasing that of labor in the input mix.
 > 
 > Can a $25 toaster oven really be described as "capital"?

Yes.  Capital goods, more precisely, but in a market economy, you can
only get capital goods by investing capital.

-- 
-russ nelson <sig@russnelson.com>  http://russnelson.com
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