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I confess to suggesting the existence of 2 threads. Accounting would be a 
fascinating new thread.  Hicks is important in that respect, indicating 
that accounting represents a serious challenge to economic theory. 
 
I have never seen an adequate theory of depreciation -- especially when 
caused by unexpected technical change -- which should be central to 
accounting. 
 
 
Michael Perelman 
 
 
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