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[OPE-L:5290] Re: Re: Re: Re: Re: how is SNLT measured?

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Jerry wrote

> In practice, I think that most Marxian empirical
> work has taken place under the assumption of
> "intensity-adjusted" labor hours. In practice,
> though, I think this is simply assuming away the problem of variations in
> the intensity of labor internationally rather than making a real
> adjustment.  If that is the case, then what has
> been measured with NIPA data by Marxians
> is not SNLT and is not a measurement of
> value.

I entirely agree with Jerry on this point.
In the Marxian empirical studies, "monetary expression of labor hour(MEL)" is usually calcualted as (total value added)/(total labor hour).
Unless the magnitude in denominator is adjusted considering intensity & skill differences across sectors, this MEL can only indicate the mapping between money sum(value added) and clock-hour.
Can one clock-hour be regarded as one abstract labor without explaining the quantitative relation between them? Or can it be validated statistically?

Dong-Min Rieu
Dept. of Economics, Chungnam National University
220 Kung-Dong, Yusong-Gu, Taejon 305-764, Korea(S.)
rieudm@xxxxxxxxx
http://business.cnu.ac.kr/~dmryu
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