From: Gerald_A_Levy@MSN.COM
Date: Mon Jan 24 2005 - 12:51:13 EST
A working paper, "Distributive Shares in the U.S. Economy, 1964-2001" by Simon M. Revised version 11/04. 33 pages. http://www.qmul.ac.uk/~ugte154/USProfitShareVers2.pdf Abstract: "Specifying the labour theory of value in a way that distinguishes both productive from unproductive labour, and production workers from supervisory workers, this paper considers distributive shares in the U.S. economy between 1964 and 2001. Trends in productive and unproductive labour are explored in full-time equivalents, hours and money. After 1979, there was a large shift of money value (not matched by a shift in either hours or employment) from the wages paid to productive workers and to those paid to supervisory labour. Since the wage share in money value added in nonsupervisory labour in unproductive sectors was approximately constant, the 1980s and 1990s also saw the profits share squeezed by the rising wage share of supervisory workers. One implications of this are explored in the construction of a class rather than a factor approach to distributive shares." Simon's homepage: http://www.qmul.ac.uk/~ugte154/ (nice smile in photo) ```````````````````````````````````````````` At another site, there is the article by Simon on "The Australian Rate of Profit, 1965-2001": http://www.jape.org/Jape52_09Mohun.pdf _Journal of Australian Political Economy_, No. 52 (December, 2003), 30 pages. Note that the years examined (65-01) are the same as those studied in the distributive shares in the US economy paper. In solidarity, Jerry
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