RE: [OPE] Mastering Marxian Economics

Date: Mon Jul 28 2008 - 07:08:24 EDT

>  But I think the way "VLP" is used  by Jerry leads to a weak theory. 
Hi Dave Z:
How so?
If you mean that it is weak in a predictive sense to allow
for systematic spatial and temporal divergences between the wage and 
the VLP, then I might agree. That's an _advantage_ of this theory.
In other senses, it is not "weak", imo: it is part of a layered and complex 
> Rather I'd distinguish:> (a) the labour-value of the real wage
Whose real wage?  
If you say the "average wage" then you have already recognized
the problem. Within an "average" there are often wide variations.
This is incorporated conceptually through the concept of 
socially-necessary-labor-time since what is counted as
SNLT varies spatially and temporally. 
In solidarity, Jerry

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