"Theoretically, actual and fictitious capital are totally different creatures with totally different magnitudes. But the capitalist reality is denominated in prices, which means that, in practice, real and fictitious capital are deeply intertwined."
evonomics.com/what-do-econom…
evonomics.com/what-do-econom…
"This #CambridgeControversy, as it later came to be known, has since been buried and forgotten. The textbooks don’t mention it, most professors haven’t heard about it and certainly don’t teach it, and the unexposed students remain blissfully ignorant of it.[4]"
"In every other science, this inability to measure the key category of the theory would be devastating (think of measuring Newton’s gravitation without mass or distance). But not in the science of economics.[10]"
"So what do the economists do to bypass these implausibilities? They add irrationality. The textbooks portray economic agents as rational and markets as efficient... In practice, economic agents are plagued by emotions, often misinformed and occasionally delusional."
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