(OPE-L) Re: the real wage, and the production of surplus value

From: glevy@PRATT.EDU
Date: Fri Dec 12 2003 - 14:28:35 EST


Paolo wrote:

> Isn´t this precisely one of the variables which give rise to the
> Goodwin´s model, Le/Lt, or employed labor force divided by total
> available labor force? It seems to be a one sided view of Marx as it
> abstracts from any growth of available labor force coming from
> technological unemployment.

One need not abstract from 'technological unemployment' in a theory
where the size of the (wage-) working population is an important
variable. Indeed, the very positing of this as a variable should lead
one into specifying what the determinants of the size of the (wage-)
working population are.  Here, one might point out the consequences
of accumulation and an increasing TCC and OCC.

> In fact, the growth of wages as Le/Lt
> increases could spur the use of labor saving methods of production,
> thereby generating available labor force before the drop in the rate of
> accumulation did it.

Possibly.  Let's disaggregate.  Assume, as you say, that real
wages are growing ... but in one region or country.  If (relative)
real wages are stagnant or declining in other regions or countries,
then it might spur re-location of capital _rather than_ labor
saving means of production.

In solidarity, Jerry


This archive was generated by hypermail 2.1.5 : Sat Dec 13 2003 - 00:00:01 EST