Re: [Pen-l] query: real wages and labor productivity

["E. Ahmet Tonak" <atonak@xxxxxxxxxxxx>]

Though the folowing two articles by Mohun only cover the situation up to
2001, but relevant to the question, I think.

eat


"Distributive Shares in the U.S. Economy, 1964-2001", Cambridge Journal of
Economics 30.3: 347-70, 2006.


Specifying the labour theory of value in a way that distinguishes both
productive from unproductive labour, and production workers from supervisory
workers, this paper considers distributive shares in the U.S. economy
between 1964 and 2001. Trends in productive and unproductive labour are
explored in full-time equivalents, hours and money. After 1979, there was a
large shift of money value (not matched by a shift in either hours or
employment) from the wages paid to productive labour to those paid to
supervisory labour. Since the wage share in money value added of
nonsupervisory labour in unproductive sectors was approximately constant,
the 1980s and 1990s also saw the profits share squeezed by the rising wage
share of supervisory workers. Some implications of this are explored in the
construction of a class rather than a factor approach to distributive
shares.

JEL Classification: C82, E24, O51
Keywords: productive labour, unproductive labour, profit share, US economy

"On Measuring the Wealth of Nations: the US Economy, 1964-2001", Cambridge
Journal of Economics 29.5: 799-815, 2005.


This paper examines the methodology of Shaikh and Tonak (Measuring the
Wealth of Nations, 1994) underlying their calculation of estimates of
productive labour in the U.S. economy from 1964 to 2001. The focus is not on
the results but on the methods that generate them. The paper finds that the
compromises made by Shaikh and Tonak because of data unavailability are
unreliable, and that better approximations are possible. On this latter
basis the Shaikh and Tonak methodology can be used to provide the labour and
wage estimates needed for empirical investigations in the surplus-based
tradition.

JEL classification: B5, O51
Keywords: productive labour, unproductive labour, US economy.




On 6/4/09 8:37 PM, "Jim Devine" <jdevine03@xxxxxxxxx> wrote:

> does anyone know of recent economic research on the relationship
> between real wages and labor productivity in the United States done
> during the last 15 years or so? (or about the "rate of surplus
> value"?) References would be appreciated.
> 
> thanks ahead of time,


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