[ox-en] Re: What is profit?

• From: Stefan Meretz <stefan meretz.de>
• Date: Sat, 27 Sep 2008 12:26:24 +0200

On 2008-09-21 20:23, Paul Cockshott wrote:

Stefan Meretz:

When competition is "perfect" then commodities are sold at their
value. The commodity value is the amount of necessary work to produce
the commodity at given level of societal productivity.

Paul Cockshott:

You have to take into account that markets are noisy systems, prices
are always random variables dispersed around values.

Yes, the "noisyness" of markets comes from the "imperfectness" of 
competition.

Ciao,
Stefan

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