Re Fred's [OPE-L:5106]: > In any case, it is certainly true that, IN MY > INTERPRETATION of Marx's > theory, the real wage is determined as above. It is not > takes as given, > ex-ante, but is instead derived ex-post from the money-> wage, as > above. Therefore, the real wage in my interpretation is > in general a > DIFFERENT BUNDLE OF GOODS from the real > wage in the Sraffian > interpretation. The real wage in my interpretation is the goods workers > actually consume, not a hypothetical assumption in a theoretical model. In other words, for the determination of the rate of the rate of profit in Fred's interpretation real wages can not be taken as given ex ante. Now we see how an assumption which has been used in one theory (workers "living on air") can not be legitimately transferred to this interpretation. Thus, the assertion that was made about Fred's interpretation depended *critically* on the v = 0 assumption or some other *special* case where the real wage was as given. Without those assumptions, diferent results emerge. It should also be noted that the position that real wages are derived ex post from the money wage is totally inconsistent with the v = 0 assumption since if v = 0 then there are no money wages. In solidarity, Jerry
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