[OPE-L:4216] Re: profit rate determination

Paul Cockshot (wpc@cs.strath.ac.uk)
Fri, 14 Feb 1997 01:51:42 -0800 (PST)

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One would compute time series not in terms of labour time
but in terms of money. Since there is a very close correlation
between monetary aggregates and labour time ones, the errors
due to using money calculations are not serious.

In practice by far the harder problem relates to distinguishing
between the profit and the total surplus value produced, since
this appears both as profit and as rent and the wages of unproductive
workers. It is how to deal with the unproductive sector that
gives rise to most of the practical problems.
> From: aramos@aramos.bo
> To: Multiple recipients of list <ope-l@anthrax.ecst.csuchico.edu>
> Subject: [OPE-L:4208] Re: profit rate determination
> Date: 13 February 1997 19:49
> Another comment on Paul C. ope-l 4201:
> Let us suppose we have you 50 national income statistics books (with
> all the numbers we need) and a calculator or a "small computer".
> How could we calculate the rate of profit in labor-time terms?
> Alejandro Ramos M.
> 12.2.97