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OK, what are these problems, how severe are they
and what use is it?
In particular is it useful enough to
be employed in the following type of
phrase:
'the rate of profit rises if with technological
improvement if the real wage is constant?'
if so, why? If not, why not?
----------
From: Allin Cottrell
Sent: Wednesday, August 28, 1996 2:13 PM
To: Multiple recipients of list
Subject: [OPE-L:2900] Re: Excuse me?
On Tue, 27 Aug 1996, Alan Freeman wrote:
> Could someone define 'real wage' for me?
The money wage divided by the CPI. Everyone knows there are
serious index-number problems, which become more severe the
more widely separated are the points in time between which
comparison is made; the concept is not thereby rendered
totally useless.
Allin Cottrell
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