Hi Jurriaan:
*Every day there are hundreds of millions of workers who are "cheated"
BY THE MARKET* - in the following sense. Wage workers enter into an
agreement with employers (capitalists and the state) to be paid a certain
wage. They (generally) receive that wage (in *nominal* terms) but the
purchasing power of their wages declines when the average price of goods
on *markets* increases (inflation). Over time, they might (or might not be)
successful in regaining their purchasing power "stolen" from them by the
*market* if they succeed in re-negotiating wages (so that the value of labour
power returns to its former state ... or, perhaps, increases). Hence, in the
short-term, inflation (the market) cheats workers but over the longer-term
the VLP might remain stable or even increase.
In solidarity, Jerry
> I think Dieterich's "labour-token" scheme is going to fail. The general hostility
> to markets and prices is unwarranted. The way they're going, they'll never reduce
> price inflation. I don't want to have anything to do with input cheats.
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Received on Wed Oct 22 02:36:11 2008
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