Cheap labour and dear shoes

[wpc@xxxxxxxxxxxxxxxxx (Paul Cockshott)]

In reply to Tom, surely this is exactly what one would expect from
a Ricardian or Marxian analysis. The price of a commodity depends upon
the amount of labour required for its production not upon the level of
wages. If wages fall then profits rise but the commodity gets no cheaper.
Only a reduction in their labour content will make them cheaper.

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Paul Cockshott , 		WPS, PO Box 1125, Glasgow, G44 5UF
Phone: 041 637 2927		wpc@xxxxxxxxxxxxxxxxx
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