[OPE-L:2909] [ALAN] RE: Defining real wages

Gerald Lev (glevy@pratt.edu)
Wed, 28 Aug 1996 10:15:51 -0700 (PDT)

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From: Alan Freeman <A.Freeman@greenwich.ac.uk>
To: "'ope-l@anthrax.ecst.csuchico.edu'" <ope-l@anthrax.ecst.csuchico.edu>
Subject: RE: [OPE-L:2896] Defining real wages
Date: Wed, 28 Aug 1996 16:20:48 +0100

OK, what is the average price of commodities,
what is a change in it, and which index numbers?
and while we're at it, what is non-inflationary
and what is purchasing power?

Also, where do I find these things in Okishio?

and in Marx?

(wages I'm happy with, also commodity, and money.
Statistically I can live with, also calculate...
The jury's out on adjust).

Gerry wrote:

Alan's #2894 question:

> Could someone define 'real wage' for me?

What's wrong with the following?

* Money wages statistically adjusted for changes in the average price of
commodities (i.e. to calculate, using index numbers, the
non-inflationary or non-deflationary purchasing power of wages).

In OPE-L Solidarity,

<stuff like "eJ8+IjYPAQa" deleted, JL>