From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Thu Mar 10 2005 - 11:33:45 EST
What else would the real wage be but a vector of commodities? The real wage in conjunction with the physical production conditions are enough to determine the money wage and rate of profit. I give a link in the paper to the web page that contains the algorithms that do the actual calculations. -----Original Message----- From: OPE-L [mailto:OPE-L@SUS.CSUCHICO.EDU] On Behalf Of Ian Wright Sent: 08 March 2005 18:09 To: OPE-L@SUS.CSUCHICO.EDU Subject: Re: [OPE-L] standard commodity Paul and Ajit I have an initial question for clarification. I thought that the basic Sraffian price equation (this from memory, so may be wrong): Ap(1+r) + aw = p (A = matrix of io coefficients, p = price vector r = scalar profit, a = labour vector, w = scalar wage) expresses wages in terms of a price scalar, so that the net product is split according to nominal (price) terms, not physical terms. In your paper, you have the real wage as a vector of commodities. What am I missing? Thanks, -Ian.
This archive was generated by hypermail 2.1.5 : Fri Mar 11 2005 - 00:00:01 EST