At 10:42 13/08/2007, Devine wrote:
On 8/12/07, Jon Baranov <[EMAIL PROTECTED]> wrote:
> The basic mechanism behind unequal exchange is clear - prices must deviate
> from values to make for equal rates of return.
right.
Only if rates of exploitation are equal--- but the mechanism for this?
It's more appropriate to think about differences in the rate of
surplus value (which reflects the ratio of labor productivity to the
real wage). Usually, it's presumed that the rate of surplus-value
(RSV) is higher in the Periphery than in the Center (though that may
not be true, since productivity is (or was) so high in the Center).
And, if RSV and OCC are correlated (via the technical composition of
capital)? And assumptions about labour mobility, worker strength,
etc? Truly little else but tautological identities masquerading as theory!
michael
Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
Director, Programme in 'Transformative Practice and Human Development'
Centro Internacional Miranda, P.H.
Residencias Anauco Suites, Parque Central, final Av. Bolivar
Caracas, Venezuela
fax: 0212 5768274/0212 5777231
http//:centrointernacionalmiranda.gob.ve
[EMAIL PROTECTED]
