tag:blogger.com,1999:blog-5687347459208158501.post573336097378744105..comments2024-03-29T03:19:09.227-04:00Comments on The Philosopher's Stone: THE FUTURE OF SOCIALISM PART TWORobert Paul Wolffhttp://www.blogger.com/profile/11970360952872431856noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5687347459208158501.post-31535772255691753062011-02-20T02:18:47.374-05:002011-02-20T02:18:47.374-05:00That is a very interesting observation that requir...That is a very interesting observation that requires some thought and a lengthy answer. Let me defer it for just a bit. I will try to return to it.Robert Paul Wolffhttps://www.blogger.com/profile/11970360952872431856noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-3284110175444253352011-02-20T01:56:10.496-05:002011-02-20T01:56:10.496-05:00While waiting for further installments, I wonder i...While waiting for further installments, I wonder if the accounting allocation problem is analogous to the index number issue discussed in the blog some time ago. While the index number problem is in a sense insoluble, it doesn't prevent the use of index numbers to increase the rationality of economic policy making. Compare the wealth of information on the state of the economy available to the Fed and the Bank of England today compared to what was available in the 1930s. Similarly, perhaps, use of a flawed accounting framework would be better than no accounting framework at all. (Max Weber attached great importance to the development of accounting.)wallyverrhttps://www.blogger.com/profile/18358344785499490511noreply@blogger.com