I do not agree, however, with his assertion that the value of higher order goods is not imputed backwards from lower order goods. It clearly is. So his solution of value spreads between present and future goods is a fail.
I do not want to get into a debate about this now, but you might want to check out my posts in this thread. You have to keep in mind that producer goods can be created by their users instead of being bought. This prevents their prices from rising above a certain level–no matter what the expected profits are.
I think I’m going to have to read this paper. It sounds interesting.