On Fri, 2009-04-03 at 22:11 -0400, Allin Cottrell wrote:
> But the labour commanded is indeed adjusted: it's the money price
> divided by some measure of the wage.
This is _labour-power commanded_, the ratio of aggregate labour-time
hired to the aggregate wage bill. It is a different measure from what
might be called living labour commanded, the ratio of aggregate
labour-time worked to money value added.
The second measure is suitable for measuring profits or wages when the
distribution of value added between profits and wages changes. The first
measure is suitable for measuring the power of the producer commodity to
create value when distribution changes.
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Received on Sat Apr 4 04:36:44 2009
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