Re: [OPE-L] questions on the interpretation of labour values

[Diego Guerrero <diego.guerrero@xxxxxxxxxx>]

Hi, Rakesh,



No. I would reckon all wages as part of the variable capital since what
counts to me is the collective worker, a concept of Marx that is usually
forgotten. Therefore there is no need that the price of those industries is
above or below its regulating centre only for that reason.



Cheers,

Diego











----- Original Message -----
From: "Rakesh Bhandari" <bhandari@xxxxxxxxxxxx>
To: <OPE-L@xxxxxxxxxxxxxxxx>
Sent: Tuesday, February 27, 2007 5:36 PM
Subject: Re: [OPE-L] questions on the interpretation of labour values


> >
> > 3) And think of the following as a general reflection: "if there are
> > taxes,
> > payments to unproductive labor, rents, or interest payments, the tendency
> > may be to equalize net profits after deducting these items" (Foley, 1982,
> > p.
> > 46). It is clear that it is a "tendency", not a short-term fluctuation,
> > and
> > also that the resulting prices, that include gross profits, not just net
> > profits, would be different from production prices in all those cases.
>
>
> Hi Diego,
>
> Writing near Silicon Valley...if there are scarcity rents included in
> the wages of highly skilled labor in what James Galbraith calls the
> knowledge intensive capital goods industries--and there may not
> be--does the tendency to equalize profit rates obtain only after
> deducting such scarcity rent? How would knowledge intensive capital
> good industries maintain prices above values to pay scarcity rent
> wages while still receiving the equalized net profit rate? What role
> do patents and intellectual property rights play in this  or barriers
> to entry in knowledge intensive capital goods?
>
> Yours, Rakesh