On Sat, 4 Apr 2009, Philip Dunn wrote:
> 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.
Hum, but I wasn't talking about aggregates; I was responding to a
question regarding the "labour commanded" by a specific commodity,
and so far as I know everyone (going back to Smith) means by that
what I said. (As "every fule know" labour commanded differs
systematically from labour embodied if the rate of exploitation is
positive. Moreover, under conditions of short-run supply/demand
disequilibrium, labour commanded can differ to an arbitrary extent
from labour embodied.)
Allin Cottrell
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Received on Sat Apr 4 10:28:45 2009
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