[OPE-L:2906] Re: Excuse me?

Allin Cottrell (cottrell@wfu.edu)
Wed, 28 Aug 1996 09:28:42 -0700 (PDT)

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Alan F:

> In particular is [the idea of the real wage] useful enough to
> be employed in the following type of
> phrase:
> 'the rate of profit rises if with technological
> improvement if the real wage is constant?'

In this theoretical context constancy of the real wage means
something quite precise: the workers' physical consumption
bundle remains unchanged. No index number problems.

Allin Cottrell.