Not as I understand the term. As I understand it, it is the ratio of
the value added by labor to the cost of the raw materials. If most of
the value of a commodity is due to labor and very little to raw
materials, for example, a cpu chip, this is a high value added item.
If, on the other hand, most of the value of the commodity is due to the
raw materials and little to labor, e,g. corn, this is a low value added
product. Although the actual products have changed over time, cores
have historically specialized in high value added products (or
processes) and peripheries in low value added products.
Bill Lear wrote:
On Wednesday, October 29, 2008 at 13:30:54 (-0500) Sean Andrews writes:
I'm trying to work out a few aspects of the phrase (and concept) "high
value added labor" as it is use in mainstream, particularly
international or transnational economics. ...
I thought it simply referred to the ratio of labor cost to unit price.
So, textile mill is high value-added, a high-tech refinery is
relatively lower.
Bill
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