[OPE-L:2316] Re: Living on Air

Paul Cockshott (wpc@cs.strath.ac.uk)
Wed, 22 May 1996 02:14:35 -0700

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>This issue has been much debated. Opponents of the FRP have shown that
> if valuation is simultaneous, Marx is wrong. Okishio, e.g., shows
> that the zero-wage (or maximum) rate of profit falls as Marx says, but
> the stationary-price equalized rate rises, if the actual real wage is
> constant and tech change is viable. The TSS refutations of the Okishio
> theorem show that Marx is right, if total price is determined by labor
> time and thus unit prices, instead of being stationary, change with
> changes in productivity.
>Andrew Kliman

Paul C
Can I have a point of clarification Andrew. In your refutation of
Okishio do you assume a zero wage, or a constant real wage?
Paul Cockshott