Re: (OPE-L) Re: the real wage, and the production of surplus value

From: paul cockshott (clyder@GN.APC.ORG)
Date: Wed Dec 10 2003 - 11:04:18 EST

  I have been re-reading farjoun and Machover on this.

They argue that if probability density function for the
rate of surplus value is degenerate, and if the wages
to capital ratio and the profit to capital ratio are
both gamma distributions, then it follows necessarily
that the division of national income between wages and
profits will be 50/50.

Thus any deviations of the wage ratio from 50/50 imply
a certain non-degeneracy of the PDF for the rate of surplus
value. It would appear that the more the wage share
deviates from 50% the greater should be the coefficient
of variation of the rate of surplus value.

More generally, if class struggle is able to establish
a uniform ratio between wages and profits for all
industries, the only possible such uniform ratio is
50/50. If on the other hand the wage share rises or
falls above or below 50%, we would expect to see the
spread of rates of surplus value between firms rising
as well.

Allin and I have computed the spread of the rate of
surplus value for the UK but only for one year. It
looks as if there is some research to be done into
whether changes in the wage share do go along with
changes in the spread of the distribution of the
rates of surplus value.

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