Ajit Sinha wrote:
>
> In my opinion, this is exactly how both Ricardo and Marx proposed to reduce
> skilled to simple or 'abstract' labor, ie. by wage differentials. I think,
> it is not an improper way to do it. The other way would be Bob Rowthorn's
> method, which probably is more appropriate for modern days, where production
> of training has become a commodity.
My problem with this solution is that the wages are set at the level of
prices.
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu