ABSTRACT
A world in which all individual plans, in every relevant detail, were mutually consistent, is a world in which economic analysis is greatly simplified. It is a world devoid of essential change. All economic values have universal and unambiguous meaning. The capital stock, that set of productive instruments in combinations that give effect to universally perceived productive techniques, has an unambiguous value. Each productive instrument can be unambiguously valued in terms of its clearly identified contribution to the valued production of which it is a part. And any contemplated difference (one hesitates to call it a change) in any of the parameters of the system, like the height of any interest rate, will have predictable and definite effects on the value of the capital stock and the other values in the system.
