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The reversal of classical wage theory

Author

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  • Antonio Carlos Alves dos Santos

Abstract

This paper discusses that Ricardo’s and Marx’s wages theory, very similar, arenot appropriated to explain the wages in the modern capitalism. We propose that Sraffa’stheory is much more appropriated to discuss it in the modern capitalism. To him the profitrate is seen as an independent variable while wages are considered as a residual one. JEL Classification: B12; B24

Suggested Citation

  • Antonio Carlos Alves dos Santos, 1989. "The reversal of classical wage theory," Brazilian Journal of Political Economy, Center of Political Economy, vol. 9(1), pages 77-82.
    • Handle: RePEc:ekm:repojs:v:9:y:1989:i:1:p:77-82:id:1601
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1601/1587
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    More about this item

    Keywords

    History of economic thought; wages; classical political economy; sraffian economics;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian

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