[OPE-L:2913] RE: Defining real wages

Gerald Lev (glevy@pratt.edu)
Wed, 28 Aug 1996 12:20:31 -0700 (PDT)

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Alan asked in #2909:

(some questions omitted, JL)
> Also, where do I find these things in Okishio?

I don't recall Okishio defining real wages.

> and in Marx?

There may be some concept of the real wage implicit in Marx, but I don't
recall his use of that expression. Wages, for Marx, are measured in
current prices (i.e. what we call nominal terms).

Are you suggesting that the distinction between nominal and real wages
isn't useful: a) analytically?; b) for empirical purposes?; c)
practically?; d) as an interpretation of Marx?; e) as an interpretation of
Okishio?; f) none of the above?; or g) all of the above?

... and while you're at it, what's *your* definition of real wages?

In OPE-L Solidarity,