Re: [OPE] CAPITAL AS POWER: free PDF download

From: Allin Cottrell <>
Date: Wed Dec 15 2010 - 22:37:44 EST

On Thu, 9 Dec 2010, Dave Zachariah wrote:

> On 9 December 2010 01:50, Ian Wright <> wrote:
> >
> > However, I think that in Dave's empirical work he actually got
> > hold of independent labor hours worked (from government
> > studies), and found the same close correlation. So no
> > circularity here. Is that correct Dave? Or do I misremember?
> You are right. The Swedish data sets contains figures on the labour
> input measured in 1000 persons per annum for each sector. Hence the
> estimated labour values of Swedish industry outputs are *not*
> 'aggregate dollar costs' but labour content...

In work that Paul Cockshott and I have done using UK input-output
tables the sectoral direct labour inputs are in the first instance
given in money terms (wage bill), but it is possible to back out a
reasonable approximation to actual hours: one can divide the
sectoral wage bills by sectoral average wage rates (obtained from
other data sources). Paul and I found that doing so did not make
much difference to the results.

> Bichler & Nitzan's claim that "labour values, just like utils,
> cannot be shown to exist" is hard to sustain.

I agree, but "hard to sustain" is putting it mildly!

Allin Cottrell
ope mailing list
Received on Wed Dec 15 22:39:32 2010

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