[OPE-L] That hissing? It's the sound of bubblenomics deflating

From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Mon Oct 08 2007 - 14:45:12 EDT


I meant labour-services such as personal services, cleaning services, maintenance work and so forth. You argued "labour embodied" and the question then is "embodied in what"? (As a reference, I attach below the US occupational division of labour in 2002 again which I calculated some years ago, ranked by size of group). 

What can be proved is a close correlation between the magnitude of net valued added and labour-time worked to produce it, but to prove the relationship between value and exchange value I really need a MELT and I haven't got one. To get a MELT, I need to rework the whole product account with different definitions, but I don't even have all the data required.

The production of gross output is frequently confused with the whole economy, i.e. with all economic activity and all transactions pertaining to that activity. This is simply not the case. The concept of gross output selects out those transactions thought to be related to new production, but this is a subset of all economic transactions. Property income, many rents, transfers, business and government financial flows, many private transactions, and second-hand items of any kind - among other items - are excluded from the valuation of Gross Output because they are considered to have nothing to do with the value of new production. In addition, real profit, interest and rent income totals are modified in line with the concept of value-added. The laws of value Marx defined pertained to the production of new output, not to all assets held and traded in an economy. The corollary is, that the "conservation law" would apply to the production of new output, not necessarily to all existing assets. 

Your assumption is that capital can exist only in labour-products which have value. But capital can also exist simply as a financial claim. If I divest from $1m of means of production and invest in $1m of gold, and thereafter divest from $1m of gold and invest in $1m of government bonds, then other things being equal, my capital is still $1m, only the form of that capital has changed.


US occupational division of labour, 2002

  a.. Managers and executives 15,800,000 
  b.. Supervisors 9,100,000 
  c.. Teaching staff, all kinds 6,600,000 
  d.. Machine operating and assembly workers 6,400,000 
  e.. Food & beverage preparing and service workers 6,100,000 
  f.. Administrative support clerks n.e.c. 5,800,000 
  g.. Construction trade workers 5,300,000 
  h.. Aides, ushers, guides, orderlies, and attendants 4,800,000 
  i.. Mechanics and repairs workers 4,500,000 
  j.. Technicians 4,300,000 
  k.. Cleaners, janitors, private cooks, maids & housekeepers 3,700,000 
  l.. Retail sales workers 3,400,000 
  m.. Truck drivers 3,200,000 
  n.. Secretaries, stenographers, and typists 3,000,000 
  o.. Scientists 3,000,000 
  p.. Sales representatives in finance and business services 2,900,000 
  q.. Cashiers 2,900,000 
  r.. Accountants, auditors, underwriters, and other financial officers 2,600,000 
  s.. Engineers, architects, and surveyors 2,600,000 
  t.. Freight & stock handlers, baggers & packers, machine feeders 2,400,000 
  u.. Labourers & helpers 2,400,000 
  v.. Registered nurses 2,300,000 
  w.. Financial records processing clerks 2,200,000 
  x.. Management analysts, specialists & consultants in human resources, PR and labour relations 2,100,000 
  y.. Materials recording, scheduling, and distributing clerks 1,900,000 
  z.. Sales representatives in mining, manufacturing, and wholesale 1,500,000 
  aa.. Childcare workers and childcare assistants 1,400,000 
  ab.. Lawyers, judges and legal assistants 1,300,000 
  ac.. Barbers, hairdressers, cosmeticians, pharmacists, dietitians 1,300,000 
  ad.. Therapists, counselors, social workers and welfare service aides 1,200,000 
  ae.. Artists, entertainers & designers 1,200,000 
  af.. Police, detective, and law enforcement officers 1,200,000 
  ag.. Military personnel 1,100,000 
  ah.. Medical doctors, dentists, vetinarians, optometrists, and podiatrists 1,100,000 
  ai.. Receptionists 1,000,000 
  aj.. Security guards 1,000,000 
  ak.. Working children under 16 1,000,000 
  al.. Prostitutes 1,000,000 
  am.. Farmers 968,000 
  an.. Non-financial records processing clerks, 995,000 
  ao.. Inspectors (construction, production and compliance) 955,000 
  ap.. Groundskeepers and gardeners (non-farm) 940,000 
  aq.. Earthmoving equipment, crane, industrial truck, forklift, lorry and tractor operators 898,000 
  ar.. Metal workers 826,000 
  as.. Farm workers 726,000 
  at.. Computer programmers 605,000 
  au.. Bus drivers 605,000 
  av.. Bank tellers 477,000 
  aw.. Postal delivery workers, messengers & couriers 468,000 
  ax.. Editors, writers, reporters and proofreaders 417,000 
  ay.. Religious clergy, and employees of religious institutions 393,000 
  az.. Personal services n.e.c. 348,000 
  ba.. Taxi drivers and chauffeurs 340,000 
  bb.. Street and door-to-door sales workers 334,000 
  bc.. Corrective institution & prison officers 328,000 
  bd.. Doctor's and dental assistants 318,000 
  be.. Firefighting and fire prevention workers 262,000 
  bf.. Electrical and electronic equipment assemblers 237,000 
  bg.. Librarians, archivists, and curators 231,000 
  bh.. Butchers and meat cutters 229,000 
  bi.. Dressmakers, tailors and shoe repairers 189,000 
  bj.. Professional photographers 178,000 
  bk.. Animal caretakers (non-farm) 170,000 
  bl.. Interviewers 169,000 
  bm.. Airplane pilots, airplane staff, air traffic controllers 152,000 
  bn.. Bakers and baking workers 148,000 
  bo.. Recreational services workers 129,000 
  bp.. Telephone operators 119,000 
  bq.. Oil & mining extraction workers 115,000 
  br.. Railway workers 111,000 
  bs.. Cabinet makers, furniture & wood finishers, and other woodworkers 104,000 
  bt.. Newspaper vendors 103,000 
  bu.. Ship captains, sailors, mates & deckhands, fishermen 98,000 
  bv.. Professional athletes 95,000 
  bw.. Social welfare eligibility clerks 86,000 
  bx.. Sales demonstrators, promoters, and models 77,000 
  by.. Water and sewage treatment plant operators 77,000 
  bz.. Forestry & logging workers 77,000 
  ca.. Optical goods workers 72,000 
  cb.. Other precision production workers n.e.c 72,000 
  cc.. Pest control workers 63,000 
  cd.. Food batchmakers 54,000 
  ce.. Other plant & system operators 45,000 
  cf.. Electric power plant operators 35,000 
  cg.. Bookbinding workers 35,000 
  ch.. Nursery workers 33,000 
  ci.. Hand molders & shapers 21,000 
  cj.. Patternmakers, layout workers, & cutters 12,000 
  ck.. Bridge, lock, & lighthouse tenders 3,000 
  cl.. Hunters & trappers 2,000 

This archive was generated by hypermail 2.1.5 : Wed Oct 31 2007 - 00:00:18 EDT