From: Alan Freeman <A.Freeman@greenwich.ac.uk>
To: "'ope-l@anthrax.ecst.csuchico.edu'" <ope-l@anthrax.ecst.csuchico.edu>
Subject: RE: [OPE-L:2896] Defining real wages
Date: Wed, 28 Aug 1996 16:20:48 +0100
OK, what is the average price of commodities,
what is a change in it, and which index numbers?
and while we're at it, what is non-inflationary
and what is purchasing power?
Also, where do I find these things in Okishio?
and in Marx?
(wages I'm happy with, also commodity, and money.
Statistically I can live with, also calculate...
The jury's out on adjust).
Gerry wrote:
Alan's #2894 question:
> Could someone define 'real wage' for me?
What's wrong with the following?
* Money wages statistically adjusted for changes in the average price of
commodities (i.e. to calculate, using index numbers, the
non-inflationary or non-deflationary purchasing power of wages).
In OPE-L Solidarity,
Jerry
<stuff like "eJ8+IjYPAQa" deleted, JL>