>>> All production
>>> processes in this example require a year to complete. Only one
>>> production process is known for producing corn. This process requires
>>> the following inputs to be available at the beginning of the year for
>>> each bushel corn produced and available at the end of the year:
>>>
>>>         TABLE 1:  INPUTS REQUIRED PER BUSHEL CORN PRODUCED
>>>
>>>                     0.82816 Person-years
>>>                     0.2 Tons steel
>>>                     0.16889 Bushels corn 
>> Did you use the (1,2,3,4...) 5 decimal places to give your argument the
>> semblance of credibility?
 
> That's to say the data is given to 5 significant digits. 1/5 is exact.


You say that like these figures are the output of some process.  WHAT
process?  Why that process?  It seems that you're hiding assumptions
here to make your argument appear stronger.


>>>    Steel is also produced in this economy. Two processes are known for
>>> producing steel:
>>>
>>>        TABLE 2:  INPUTS REQUIRED PER TON STEEL PRODUCED
>>>
>>>                  Process Alpha                    Process Beta
>>>
>>>                0.19321 Person-Years          0.033594 Person-Years
>>>                0.35 Tons Steel               0.13329 Tons Steel
>>>                0.0095553 Bushels Corn        0.15590 Bushels Corn 
>> Wow!  (1,2,3,4,5,6...) 7! decimal places!  Why?

> Strangely enough, the data is reported here to 5 significant figures
> also. So I'm being consistent. 7/20 is also exact.


WHAT data?  Why didn't you report it?


>>> 4.1 INITIAL EQUILIBRIUM PRICES
>>> 
>>>    Suppose wages are $3,347 per person year, the price of steel
>>> is $6,013 per ton, and the price of corn is $10,000 per bushel. Also,
>>> let the rate of interest be 150%. Consider the costs and revenues
>>> for the steel industry if the beta technique is used. Table 9 shows
>>> the relevant calculations. 
>> Where did your prices come from???
 
> The wage is exogeneous in my calculations, although the model can be
> extended to make it endogeneous.


You claim to have a model of an economy, but wages are exogenous? 
That's not a model.

> One tenth thousand of a bushel of
> corn is being used as numeraire. The price of steel and the interest
> rate are endogeneous.

Actually, your interest rate is EXOGENOUS.

> It is left as an exercise to the reader to
> determine how to find these two numbers endogeneously.

Meaning that you have no idea.  Let me help:  they're NOT endogenous.

> Some months ago, I had explained how to extend this example to include
> time preference:
> 
>    Supplement my example with intertemporal utility-maximization.

Robert, you claimed that your example was sufficient.  It's perfectly
transparent that you've concealed many parts of it from scrutiny.  This
can only indicate that they don't actually hold up to scrutiny.

> Also notice that this extension will make all prices and the interest
> rate endogeneous.


Notice further that you don't dare actually exposing your claim to
scrutiny.