[OPE-L:2879] Re: Value of labour power and real wage

Gil Skillman (gskillman@wesleyan.edu)
Tue, 27 Aug 1996 11:52:26 -0700 (PDT)

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Paul Z. writes [[hi, Paul. Thanks for your help w/ JAI]]:

>These remarks of Duncan are consistent with my own understanding, i.e.,
>it is very important to take the rate of surplus value as fixed in
>analyzing the falling tendency of the rate of profit.

Important to make the theory work, perhaps, but in any relevant empirical sense?
What plausible capitalist dynamic guarantees this, especially since
capitalists don't base their decisions on value-theoretic categories? In
light of the latter it seems to me that value-theoretic categories are
presumptively epiphenomenal in any such account. This presumption can be
rebutted, of course, but it requires an explicit argument.