[OPE-L:4787] Re: the determination of real wages---- and a puzzle

Ajit Sinha (ecas@cc.newcastle.edu.au)
Tue, 15 Apr 1997 02:46:02 -0700 (PDT)

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At 08:24 PM 4/14/97 -0700, Paul Zarembka wrote:

>> Not really! You are forgetting population growth. Marx assumed a positive
>> population growth.
>You miss my point. I'm saying accumulation of capital can reabsorb
>workers expelled by technological change, and also can absorb those from
>penetration of pre-capitalist forms of production by capital and those
>from population growth. Capital is greedy (if you like a quaint
>expression better than, say, hunger for value and surplus value).

Well, the rate of growth of capital cannot be faster than the rate of
profit. Your position emplies that rate of profit will always be higher than
the rate of growth of population plus the rate at which labor saving
technical change "sets the workrs free". How can you establish this proposition?

Cheers, ajit sinha