From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Wed Sep 21 2005 - 04:24:22 EDT
Ian Wright wrote: > In reply to Ian. > > Sraffa says that in principle the wage should be split > > into a portion necessary for the reproduction of labour > > power, and a portion that constitutes part of the surplus > > that can be struggled over. I think this is certainly correct. > > If one took that view of it, the basic sector would include > > those products whose production was necessary to the > > reproduction of the working population. > > > You can maintain this interpretation, but only at the expense of working > with Sraffa's incomplete equation to determine prices. There are > economic realities in which this equation either cannot determine > prices, or cannot maintain the assumption of a uniform rate of profit > for all sectors. This happens when the maximum eigenvalue of the i/o > matrix A does not lie on the principal diagonal of the submatrix that > refers to basic commodities. > -Ian. Please explain why this is the case. -- Paul Cockshott Dept Computing Science University of Glasgow 0141 330 3125
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