ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

R BanerjeeSubscribe to R Banerjee

Thermodynamics and Value of Capital Goods

Thermodynamics and Value of Capital Goods R Banerjee HRISHIKES BHATTACHARYA (Towards a Theory of the Value of Capital: A Techno- Economic Approach', EPW, Review of Industry and Management, November 26) attempts to construct a theoretical framework for determining the value of a capital good. The author claims to be provoked by the "a priori assumption of exponential decay in capital goods" made in most studies with no theoretical justification. He then proceeds to develop a theory which itself is based on similar assumptions disguised in a veneer of thermodynamic respectability.

Personnel Administration

S Chatterjea Marketing Management and the Indian Market edited by S Neelamegham; Vikas Publications, 1970; THIS is a carefully chosen collection of 38 articles on marketing. Most have something new to say and all are of topical interest to the Indian marketing scene where, in the words of David Moore, the dominant values in industry are shifting "from those of the manufacturing executives to those of the marketing executive".
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