From: michael a. lebowitz (mlebowit@SFU.CA)
Date: Thu Nov 20 2003 - 13:50:30 EST
At 11:44 20/11/2003 -0500, jerry wrote:
>Mike L wrote:
>
> > OK, what produces those declining money wages? Assume that those
> > productivity increases drop from the sky (ie., without any effect of an
> > increase in the technical composition of capital).
>
>The decline in money wages, also, would have to drop from
>the sky since the only reason they would decline is because
>of the assumption of a given real wage.
So, do you conclude that, all other things equal, the effect of
productivity increases in this case will be real wages rising at the rate
of productivity and, accordingly, a constant rate of surplus value?
in solidarity,
michael
---------------------
Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
Office Fax: (604) 291-5944
Home: Phone (604) 689-9510
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