Jim wrote: > Okishio assumes that real wages stay constant, which is grossly > unrealistic. Long ago, John Roemer (one of Wolff's chosen few, > at least for awhile) showed that if real wages rise with labor > productivity, Okishio's theorem (that profitable technical progress > raises profit rates) may or may not be true.
If Okishio's theorem is based on the assumption that wages be constant, then any reasoning based on the assumption that wages vary would be X's theorem, but not Okishio's. Marx begins Capital 3:3:13 by assuming constant wages. His FRP, which he proposed as a "tendency" (and such it is!), is premised on constant wages. (And yes, real wages, since the price level is also assumed constant.) https://docs.google.com/file/d/0Bz8r3wEf4Lk_UU9XaEpqSnUwNm8/edit?usp=sharing _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
