| Abstract: | This note reaffirms the author's conclusion that measured price–valuecorrelations have been tainted by the influence of industrysize and are therefore spurious. ‘Deflation’ ofsectoral prices and values by costs destroys the correlationonly because the theory in question is false, as the author'soriginal paper proved deductively. Cockshott and Cottrell'sresults do not refute this proof. Deflation destroys the correlationbetween their simulated prices and values precisely becausetheir simulation model assumes that the theory is false. |
