Re: Re: Re: Re: Re: My Take on Competition

[Doug Henwood]

Michael Perelman wrote:

>Doug, you often use the semi-Marxist measure in your popular writing of
>estimating how many hours someone would have to work to buy a particular
>commodity.  Think of the markups in the following way.  Suppose each good
>experiences an increased markup, while nominal wages remain unchanged.  What
>workers end up with shrinks and surplus increases.  Maybe I'm just 
>missing your
>point.

First, doesn't this theorize the origin of profit in exchange rather 
than production? And second, how do we go from Nike to "each good"? 
Don't you have to prove that the markup has increased for all 
products, not just branded sneakers?

Doug