[OPE-L:2875] Re: Value of LP // Real Wage

John Ernst (ernst@nyc.pipeline.com)
Tue, 27 Aug 1996 09:24:09 -0700 (PDT)

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Like Stephen, I, too await some clarification.


On Aug 26, 1996 17:25:18, 'Stephen.Cullenberg@ucr.edu (Stephen Cullenberg)'

>I guess I'm lost here. The Cambridge debate was about the relationship
>between certain aggregate measures of capital and their respective
>distributional variables. Why wouldn't relative "factor prices" affect
>choice of technique on a disaggregated level?
>Steve Cullenberg
>>A useful outcome of the cambridge debate was that because of the
>>possibilities of reswitching and reverse capital deepening, it is
>>impossible to establish a positive monotonic function such that K/L =
>>f(w/r). Doesn't this alert us to look elsewhere regarding the incentives
>>technical change?
>>peace, pat mason
>Stephen Cullenberg office: (909) 787-5037, ext. 1573

>Department of Economics fax: (909) 787-5685
>University of California Stephen.Cullenberg@ucr.edu
>Riverside, CA 92521