[OPE-L:1927] Re: productivity increases and rising real wages

Gerald Levy (glevy@PRATT.EDU)
Wed, 15 Dec 1999 09:57:23 -0500 (EST)

Patrick wrote in [OPE-L:1926]:

> Yes, I do argue that productivity growth increases the *ability* to
> pay, that is, it raises surplus labor time. Whether or not pay actually
> rises is another story. All the productivity gains could go to profit,
> or there might be some division between labor and capital, or the
> productivity gain could be used to hire more unproductive workers.

Or, the increase in surplus value might translate itself into an
increasing ability for landowners to increase rent and banks to increase

In solidarity, Jerry

This archive was generated by hypermail 2.0b3 on Sun Dec 19 1999 - 11:17:56 EST