Paul said:
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This is a point originally brought out by Farjoun and Machover.
They observed that if you plot the profit/wage bill ratio of
a large sample of industries one in practice observes a relatively
narrow distribution, at least as narrow as the dispersion of rates
of profit.
There is thus pria-facie evidence of a tendency for the rate of
surplus value to equalise between industries.
They hypothesise that this is because it is easier for unions to
win wage increases in industries with a high profit/wage ratio
than in low profit/wage ratio industries. This tends to compress
the dispersion of rates of surplus value.
Paul Cockshott
Chai-on:
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Paul, do you mean that, empirically, the equalization of exploitation rates
is more tendencially powerfull than the equalization of profit rates?
With wonder
Chai-on