on 2008-12-08 17:11 Paul Cockshott wrote:
> The effect is in the opposite direction!
>
Hmm, I must have misunderstood something here.
MELT = Net Domestic Product at market prices / number of worker-hours
Holding prices and the quantity of labour constant, a rise in
productivity ought to raise the NDP and hence the MELT. Holding
productivity and the quantity of labour constant, a rise in prices ought
to inflate the NDP and hence the MELT.
//Dave Z
_______________________________________________
ope mailing list
ope@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/ope
Received on Mon Dec 8 12:44:28 2008
This archive was generated by hypermail 2.1.8 : Wed Dec 31 2008 - 00:00:05 EST