Re: [OPE] Mastering Marxian Economics

From: Dave Zachariah (
Date: Mon Jul 28 2008 - 07:58:21 EDT

> >  But I think the way "VLP" is used  by Jerry leads to a weak theory.
> Hi Dave Z:
> How so?

Because it does not count the domestic labour necessary to reproduce the 
capacity to work, which is significant in a historical analysis. That is 
the problem if you try to use it like (b). On the other hand if you use 
it like (a) you end up with very strange conclusions and extra 

I made both of these points in:

> > Rather I'd distinguish:
> > (a) the labour-value of the real wage
> Whose real wage? 

The answer depends on the section of the working population you are 
looking at. If you are interested in the national level you would look 
at an average bundle of consumption goods.

//Dave Z
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