In reply to Paul's [OPE-L:3544]
>
>Of course one can not forget wage costs as a flow but they are small as a stock
>
This is an empirical matter, and I wouldn't be quick to prejudge it. The
stock of v is accounted for in capitalist books as part of the value of
inventories of goods in process (since wage costs have to be assigned).
This category is not negligible itself, and I suspect that research would
show a significant proportion of it represents wages.
Duncan
Duncan K. Foley
Department of Economics
Barnard College
New York, NY 10027
(212)-854-3790
fax: (212)-854-8947
e-mail: dkf2@columbia.edu