Re: (OPE-L) Re: indirect labor, the real wage, and the production of surplus value

["michael a. lebowitz" <mlebowit@xxxxxx>]

At 08:57 21/11/2003 -0500, jerry wrote:
> Mike L asked:
>
> >   So, do you conclude that, all other things equal, the effect of
> > productivity increases in this case will be real wages rising at the rate
> > of productivity and, accordingly, a constant rate of surplus value?
>
> No, not really.   Unless there is a meaningful mechanism that would
> adjust real wages to a change in productivity such that real wages
> will grow by an amount equal to the rate of growth of labor
> productivity (or when there is declining productivity, cause a
> reduction of real wages by a rate equal to the rate of reduction in
> labor productivity)  there is no reason to come to this conclusion.


But, Jerry, yesterday you wrote the following:

> Assuming that commodities are sold at their value and assuming
> competitive  conditions,  productivity increases should result in declining
> commodity prices, including declining prices for means of consumption
> for workers. A given real wage, under these circumstances,  requires
> *declining money wages*.

Under these conditions (ie., falling commodity prices), won't real wages
grow with productivity--- unless something has produced a fall in money wages?
        in solidarity,
         michael

---------------------
Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
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