From: gerald_a_levy (gerald_a_levy@MSN.COM)
Date: Mon Nov 03 2003 - 19:47:30 EST
Phil wrote: > To measure the natural price markup we use wage data. We > use real wages -- the average hourly wage is equal to 1. Then we > recalculate each firm's wage bill using not the actual wage paid to > each worker, but the economy-wide average wage paid for each type of > skill. Since these economy-wide averages will be statistically > independent, the recalculated real wage bill will be immunized > against market noise. The greater the number of different skills > used by the firm the better this works. <snip> > It does need a breakdown into different skill groups, as finely as > possible. Also it would be desirable to break down the firm's > wage bill into parts corresponding to joint products and then break > those down into skill groups. This would pitch things > at the level of the valorization process for each joint product. Wouldn't the wage bill have to be divided into wages for two distinct groups -- wages for productive workers and wages for unproductive workers? If one is trying to determine the 'R-potential for value-creating labor activity', isn't that a necessary step -- even if it is an additional complication? In solidarity, Jerry
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